The North-West Coast’s premium farmland is among the most expensive in Australia, according to a new report, with Latrobe leading the way.
The Bendigo Bank Agri-Business Australian Farmland Values Report says the average price of farmland on the North-West Coast was just over $27,000 a hectare.
The report says prices in most regions dropped over the year, with the number of transactions also plummeting.
The average price on the North-West Coast only dropped by 7.5 per cent, but it was still the second-most expensive in the country, with land in South-West Gippsland in Victoria averaging more than $29,000 a hectare.
Latrobe had the highest average in Tasmania, selling for more than $33,000 a hectare, with Central Coast, at $32,000 and Waratah-Wynyard at $28,000, rounding out the top three, followed closely by the Northern Midlands.
