Rural Bank's annual Australian Farmland Values report reveals that median price per hectare for Goulburn Mulwaree was $11,475 in 2020, recording 8.3 per cent compounded annual growth over five years.

John Scarlett from Rural Bank, Goulburn said properties that transacted at a higher rate in 2020 were driven by increased listings in municipalities previously impact by bushfires.

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"Commodity prices, low interest rates and seasonal conditions aided buyer confidence and led to increased demand for quality grazing properties," he said.

Similarly, Upper Lachlan recorded $6,495 median price per hectare in 2020, 13.9 per cent compounded annual growth over five years with 109 transactions taking place during that year.

Unlike Goulburn Mulwaree and Upper Lachlan, median price per hectare in Yass valley eased slightly after a record high in 2019 with a median price of $10,595 per hectare in 2020.

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According to the report, the transaction mix in 2020 favoured the mid to high value ranges which contributed to the growth in median price per hectare for the region.

In South East New South Wales, the median price per hectare for farmland increased by six per cent in 2020 to $7,390 per hectare.

"The volume of transactions increased sharply to 462 in 2020, 28.3 per cent higher than 2019, which was a historic low for the region. The increase in transaction volume was driven by the municipalities of Queanbeyan-Palerang, Snowy Monaro and Upper Lachlan," the report added.

"An increase in transaction volume was met with strong demand from buyers seeking reliable grazing properties after a year of tight supply in 2019."

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