Tasmanian farmland is emerging as the state's best investment, according to a new report.
The median per-hectare price of Tasmanian farmland surged by 25.3 per cent last year to nearly $13,700, pushing further into record territory and by far the nation's most expensive. Only Victoria came anywhere close, the per-hectare price across Bass Strait still $5,500 cheaper.
Rural Bank's Australian Farmland Values report found a total of 29,000 hectares went under the hammer in the state last year, similar to the year before.
Chief Operating Officer at Rural Bank, Will Rayner, says the figures demonstrate the remarkable strength and resilience of our agricultural sector.
"The overall amount paid in Tasmania skyrocketed by 43 per cent, the state's rich northwest farmlands experiencing the largest increase in price per hectare, up nearly 27 per cent."
The annual Australian Farmland Values report tracks every farmland sale over the past 26 years, providing detailed insights into farmland values across Australia.
The report drew on more than 263,000 transactions accounting for 315.9 million hectares of land with a combined value of $167.3 billion over 26 years.