Surging farmland prices squeeze locals of profitability and hopefuls of ownership
· High land prices are squeezing established local farmers and young families out of ownership
· The logic of "get big or get out" rules the economics of Australian agriculture
· Young hopeful farmers still see a pathway to ownership
By Angus Mackintosh, ABC Rural (Australia)
Oct 5, 2021
When the Blake family tried to expand their 1,000-hectare farm to stay viable, the century-old Katanning farming family could not secure a lease or an affordable block to buy.
Instead, in March, and in a moment they never thought they would have to face, the sale of their farm was settled.
Kallum Blake's family sold their home and farm, located 285 kilometres south-east of Perth, to an offer "30 to 40 per cent higher" than they thought the property was worth.
But even at such a significant premium, the sale was bittersweet...
A lease on farming ...
Farmland boom ...
'If you're not getting bigger, you're getting out' ...
more, including chart