Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Farming sector confidence high, though shaken by floods

By Staff Reporter
17 March 2022 | 1 minute read
Farming sector

NSW farmers were anticipating record-level investment in the months ahead, but confidence may have somewhat faltered in the north in the aftermath of the state’s floods.

According to Rabobank’s latest rural confidence survey, NSW farmers came out of a challenging summer with hopes still high for the future. The fallout from record rainfall and ensuing flooding in the Northern Rivers remains to be seen, but across much of the state, farmers are still aiming to expand.

The survey found that just under half of the farmers polled in NSW intended to increase investment in their farm business over the course of 2022 – among the strongest investment intention polled across the country. Sheep producers recorded the highest appetite for investment.

New fencing, silos, new or upgraded yards and other infrastructure were among the upgrades earmarked for a fresh influx of money.

Prior to the floods, income projections for the year ahead were strong. While that will change in the north, farmers in other parts of the state are likely still expecting a healthy financial year, with 50 per cent anticipating an increase in revenue while 39 per cent forecast a similar return to last year.

Rabobank regional manager for northern NSW Brad James said that farmers’ confidence in a good year ahead would still bring a boost to long-term investment plans.

“This is really positive for the long-term financial resilience of the sector,” he said.

“Farmers have been using good cash returns from the past two years to consolidate debt, reinvest in their farms and prepare themselves practically and financially for the next drought.

“They are making the most of the current financial opportunities and reinvesting in their own businesses or expanding their productive capacity.”

Farming sector confidence high, though shaken by floods
melbourne farm reb
lawyersweekly logo

Tags:

Never miss a beat with

Stay across what’s happening in the Australian commercial property market by signing up to receive industry-specific news and policy alerts, agency updates, and insights from reb.

Subscribe to reb Commercial:

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.