Riverina Rural Property Snapshot and Welcome to Angus Macleod

Angus has recently joined the Elders Real Estate division specialising in agribusiness services and covering the south-west of NSW and Riverina regions. Based in Wagga Wagga, Angus will work primarily with branches along the Murrumbidgee, including Gundagai, Tumut, Wagga Wagga, Narrandera, Griffith and Hay.

Angus brings a vast knowledge set to the Elders team, with his strong background in transactional services, valuations and auctioneering. Raised in the Riverina’s Hay district and now residing on a small farm outside Wagga Wagga, Angus holds extensive and diversified experience in all agricultural asset classes, ranging from horticulture, broadacre farming, irrigation and grazing.

Angus regularly provides high-level agribusiness advice to both corporate and local industry operators and holds a strong track record in executing highly successful farmland transactions.

Riverina Rural Property Market Snapshot

• 2020 saw an increase of over 10% on land values year on year
• The volume of total properties sold doubled in the same period
• Increase of nearly 70% on average value per hectare since 2018
• Historically low interest rates, coupled with record commodity prices and bumper crops have seen an increase in family operators capitalising on these favourable conditions
• Strong increase in property values have strengthened farmers equity positions, allowing for further expansion
• The pandemic has largely been favourable to rural and regional property markets with heightened enquiry and sales resulting from metropolitan regions
• Above average water allocations and relief on temporary water prices are creating a renewed confidence for the upcoming season in the irrigation districts.