IN THIS week’s property review, industry specialists give their take on what lies ahead for the 2025 grazing property year across Australia.
As usual, a range of influences have been put forward as important direct and indirect drivers of the property market this year, ranging from the impact of tariff wars spawned by US president Donald Trump, a low Aussie dollar making Australian grazing assets more attractive to offshore investors, and continued, if not growing interest in carbon markets.

Will McLay HTW
Herron Todd White valuer Will McLay believes the 2025 property market environment will be similar to 2024.
“Despite a slowing trend in terms of fewer properties on offer and less buyer activity compared to 2024, there was still enough depth in the 2025 market for people to step up and pay market peak levels for quality assets,” Mr McLay said.
“The property market hinges on the cattle market. If the season comes in and cattle prices firm, then the 2024 trend will continue.”
Mr McLay believes land values will stabilise in the short term.
“There is unlikely to be an uplift in values, but there may be more activity and buyers present on the back of a potentially sound to strengthening beef commodity outlook.”
Jesse Manuel, Colliers Agribusiness
Jesse Manuel, national director of agribusiness transactions services for Colliers said while 2024 was a year of adjustment, as buyers and sellers felt their way through a market with limited transactions, 2025 had already brought a renewed level of optimism.

Jesse Manuel, Colliers Agribusiness
“There are some fantastic assets coming to market, demonstrating a real vote of confidence from our clients and the flurry of completed deals towards back- end-of-last year has allowed buyers to work out where values are settling.”
Mr Manuel believes now there are some clearer optics around the economics of ag investments compared to last year, a more settled market will translate into some positive sale results across the country.
“In the northern market, live exports have started the year on a more buoyant note compared to last year,” he explained.
Mr Manuel said one noticeable trend in recent months has been the increase in enquiry and purchasing mandates from off-shore high net-worth individuals looking for a safe place to invest.
“That is especially so from the United States where the exchange rate makes for a very compelling case for investment in Australia, and the ag funds from that part of the world have a strong appetite for scale as well.”
Danny Thomas, LAWD
While the 2024 property market drew breath, LAWD senior director Danny Thomas expects 2025 will be very busy.
“It will be a step-change,” he said. “Increasing institutional activity will result in a much busier market, as more deals are completed. A wall of overseas capital is coming into Australia from mostly North America and Europe, with next to no activity out of China.”

Danny Thomas
“In terms of North America and Europe, Australia represents good value for money, particularly given the exchange rate,” Mr Thomas said.
“In addition, the nature-based solutions market is dragging more money into Australia. People can access carbon credits and biodiversity offsets to meet some of their investment requirements around sustainability.”
“If more activity is met with less supply, then property prices could rise. However, the current pent-up supply means the market and values will track sideways for the time being.”
Mr Thomas believes the balance of the market, the family farms, will kick in again during 2025.
Mark Barber, Elders
Mark Barber is in charge of agribusiness investment services for Elders. In 2025, he expects similar conditions to those experienced in the second half of last year.
Mr Barber said overall, 2024 was a challenging year for rural property sales.

Mark Barber
“Livestock prices had severely declined in late 2023 and were slowly recovering, seasonal conditions in the south were poor, and there was no clear direction on interest rates.”
Mr Barber said that shook confidence generally and led to buyers being cautious.
“As the year progressed, livestock prices improved and there were mostly good to average seasonal conditions in New South Wales, Queensland and parts of Western Australia.”
Mr Barber said good quality properties in sought-after areas sold well, albeit with more time on market.
“Family farmers with robust balance sheets were strong competitors, but finance took longer to secure where needed. On the other hand, corporate investors were successful in raising capital, but high property values made it difficult to hit their return hurdles.”
Mr Barber said last year, institutional and corporate investors, particularly from North America and Europe, were active but often found the elevated prices challenging when calculating their required financial hurdles. However, further reductions in the Australian dollar against the US dollar could encourage more offshore buying.
“If trading conditions remain the same in 2025, I would expect to see property prices hold firm with some strength in Victoria and South Australia – if there is a good autumn break.”
“Australian agriculture is still a good investment. It offers a secure capital and a reasonable return. Yes, there has some been some volatility in commodity prices and seasonal conditions, but the low property turnover shows farmers remain confident,” he said.
Mr Barber said key drivers in 2025 will be the impact on commodity prices under the new United States President, as well as interest rates and seasonal conditions.
“Australian agriculture will keep an eye on the impact on commodity prices in the wake of US tariffs.”
“China is one of the biggest importers of Australian commodities and imposing tariffs could slow growth and Chinese demand. With property prices and commodity prices closely correlated, a contraction in commodity prices could impact confidence and possibly property values.”
- See tonight’s separate summary on the reasons behind the early start to grazing property campaigns being seen in 2025
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