NUTS FOR FARMS: The popularity of rural properties, in particular, macadamia properties is a driving force of the Northern NSW rural property market.
NUTS FOR FARMS: The popularity of rural properties, in particular, macadamia properties is a driving force of the Northern NSW rural property market. Contributed

Buyers nuts for macadamia farms

RURAL properties on the Northern Rivers are attracting strong demand according to property valuers latest report.

Property experts Herron Todd White's September 2019 Rural Report noted that the North Coast of NSW is a buyers' market thanks to "a shortage of listings of rural properties for sale."

"Strong demand is apparent and continues for macadamia farms," the report said.

"A number of recent sale transactions of reasonable size macadamia farms have occurred which indicate analysed values in the range of $70,000 to $100,000 per mature orchard hectare during mid 2019."

The report said this is an increase from late 2018 and early 2019 when the top of the analysed value range was broadly indicating $85,000 per mature orchard hectare.

According to the data supplied by the Australian Macadamia Handlers Association (AMHA) which represents 90 per cent production in Australia, in 2018 the price per kilo of macadamia nuts in shell was $5.81.

Meanwhile, the report noted that the sugar cane farm market is subdued as the world sugar price is down to US11.47 cents per pound.

Subsidised Indian sugar continues to impact negatively.

Dry conditions have encouraged some growers to bale post-harvest sugar cane residues for mulch purposes.

The report also noted that the beef cattle property market remains solid (although) a shortage of sales listings and sales is a feature of this market sector as well.