Rural Press Club of Queensland September Lunch Series:
Where will skyrocketing rural values land?
Property prices. A perennially hot topic of conversation in agriculture and one that has been of particular interest over the past five years with fierce competition between corporate investors and cashed-up farming families buoyed by record commodity prices.
Sue Neales
Rabobank has recently reported that agricultural land prices across the country rose in 2021 by 27 per cent, with double digit annual growth recorded in all states. Preliminary data for 2022 indicates growth of above 25 per cent so far this year, suggesting full-year 2022 sales will easily yield double digit growth. The size of land deals is continuing to increase.
But, with uncertain global political forces, a challenging economic environment and growing costs of production, how sustainable are these rates of growth? When will they settle and what does it mean for who will reign as the dominant buyer group for prime Australian farmland?
Join the Rural Press Club of Queensland for a special panel discussion featuring acclaimed rural real estate agent, Danny Thomas from LAWD, Brendan Egan from the Queensland Rural and Industry Development Authority, and facilitated by highly regarded rural journalist, ex agriculture reporter with The Australian, winner of the International Federation of Agricultural Journalists 2022 Star Prize for Print Journalism, Sue Neales.
DANNY THOMAS
Danny Thomas is a Senior Director with LAWD and brings more than 25 years’ experience to the role, having held senior agribusiness leadership positions in commercial real estate companies in Australia.
Widely regarded as one of the nation’s leading agribusiness transaction advisors, Danny has stewarded many of the largest transactions in Australia’s farm sector in the past decade, and notably oversaw the sale of Lawson Grains (as a going concern) and the Corinella Portfolio (in 27 separate contracts) in his inaugural year at LAWD for a total of $950 million.
Danny is also a director and shareholder in Murray River Land (PropCo) and Ulupna Pastoral Company (OpCo), which owns and operates more than 10,000 hectares of irrigated cropping land in northern Victoria. Danny also holds additional private investments in a significant number of dairy and beef cattle.
BRENDAN EGAN
Brendan has spent more than 30 years working in a range of public and private sector roles supporting Australia’s agricultural and food industries including in rural media, communications, trade and investment, business development, corporate and government relations.
As a media and communications professional, Brendan has been an ABC rural journalist, a senior media advisor to federal parliamentarians, and a corporate communications director. Brendan is a former president of the Rural Press Club of Queensland.
Brendan also has extensive international trade experience as an export advisor working privately and for the Australian Trade Commission including as manager of the national food and agribusiness team.
In his current role with QRIDA, Brendan is responsible for the Authority’s engagement with a wide range of stakeholders including business, industry, professionals, government, and media.
He is directly responsible for managing QRIDA’s ‘shopfront’ including its State-wide regional network, marketing and communications, business development and policy teams.
Brendan will also discuss the results of the latest Queensland Rural Debt Survey which were announced in August.
| WHO | Danny Thomas
Senior Director at LAWD Brendan Egan Chief Engagement Officer at QRIDA Sue Neales Rural journalist, and ex agriculture reporter with The Australian |
| WHEN | Thursday 29 September, 12pm to 2pm |
| WHERE | Tattersall’s Club
215 Queen Street, BRISBANE |
| PRICE | Members: $110 per person or $1050 per a table of ten
Non members: $120 per person or $1150 per table of ten |
To book individual tickets or a table of 10 to this event, click here
Obviously with the unsustainable rapid increase in land prices over the last five years the younger generation have been outbid at every attempt to purchase property even for unsustainable so called starter blocks. This conference obviously is focusing on corporates versus farming families but what about the others? The industry as a whole need to think about where it will be in decades to come if they continue down the current path of greed over common sense, no new young and fresh thinkers in the game spells the end. There are hundreds of young people itching to get in but can’t get a deposit in this climate, many are from the industry but are unfortunate that they aren’t supported by their family because they are daughters and not sons. Do the financial providers ever stop and think who their customers are going to be in twenty years time if they continue to embrace this unsustainable land price over embracing those who are capable of running these properties when inevitably times get hard?
Maybe a point of discussion could be to debate why Some Councils are taking advantage of UCV to line their coffers?
Central Highlands Council are taking full advantage of a 100% increase in Land values without any explanation. Rate increases of
15% last year, 30% this year and proposed 30% next year, despite a budget press release stating that is would only be 3%.
Where does Stephan Miles stand on this issue?