What’s Happening?
The median farmland price across Queensland’s North region increased during the first half of 2026, according to the Australian Farmland Values Mid-Year Report from Bendigo Bank Agribusiness.
The region recorded year-on-year growth in its median farmland price, while Bendigo Bank Agribusiness reported particularly high demand for cattle properties across the Far North and North.
Why It Matters
The North was the only Queensland region to record an increase in farmland sales compared with the same period last year.
Bendigo Bank Agribusiness said cattle properties across the Far North and North were in particularly high demand, supported by several strong seasons and high prices.
However, performance varied between agricultural sectors. Horticultural blocks remained under significant pressure as growers faced declining returns and rising expenses, while cane farms had limited growth prospects amid a soft price outlook.
Local Impact
The North region’s median farmland price reached $15,949 per hectare during the first half of 2026. That represented an increase of 2.9 per cent year-on-year and 35.1 per cent half-on-half.
The region recorded 71 transactions, up 14.5 per cent year-on-year but down 4.1 per cent from the previous half-year.
David Pollock, Senior Agribusiness Relationship Manager, provided the report’s commentary for the Far North and North regions.
“The farmland market across the Far North and North regions have continued to slow, though performance is varied at a sector level. Horticultural blocks remain under significant pressure with growers struggling to move properties amidst declining returns and rising expenses. Cane farms are also seeing limited growth prospects amidst a soft price outlook for the sector. However, cattle properties are in particularly high demand with several strong seasons in a row and high prices supporting buyer demand. Looking ahead, the farmland market outlook is mixed with cattle properties to continue to move slightly higher while the value of horticulture and cane blocks is anticipated to remain under pressure.”
By The Numbers
- $15,949 per hectare — North region median farmland price, up 2.9 per cent year-on-year and 35.1 per cent half-on-half.
- 71 transactions — recorded across the North region, up 14.5 per cent year-on-year but down 4.1 per cent half-on-half.
- $11,047 per hectare — Queensland’s overall median farmland price, up 11.9 per cent year-on-year to a record high.
Zoom In
Market conditions varied considerably between agricultural sectors across the Far North and North.
Horticultural blocks remained under significant pressure as growers faced declining returns and rising expenses, while cane farms had limited growth prospects amid a soft price outlook.
Cattle properties, however, were in particularly high demand following several strong seasons and high prices.
Across Queensland more broadly, cattle markets remained buoyant during the period, supporting demand for grazing land.
Zoom Out
Queensland’s overall farmland market recorded widespread price growth, with five of the state’s seven regions recording year-on-year growth in median farmland prices.
However, farmland sales continued to decline across the state. Queensland recorded 647 transactions during the first half of 2026, down 10.8 per cent year-on-year and the lowest half-yearly sales volume recorded in more than 32 years.
The report said continued strength in cattle markets, alongside ongoing consolidation of Queensland properties, helped push the statewide median farmland price 11.9 per cent higher year-on-year to a record $11,047 per hectare.
What To Look For Next?
Bendigo Bank Agribusiness forecasts modest growth in Queensland farmland values into 2027. However, market direction will increasingly depend on how seasonal conditions develop over the next six months, while the direction of the cattle sector will also influence the farmland market.
For the Far North and North, the outlook is mixed. The report expects cattle properties to continue moving slightly higher, while the value of horticultural and cane blocks is anticipated to remain under pressure.
Check out the full Australian Farmland Values report and Bendigo Bank Agribusiness insights.
