Some prime pieces of rural land in Tasmania have been sold in the past six months, all of them staying in local hands. But the demand from interstate farmers wanting to escape climate change impacts is rising.
00:00Rebbin Farm is one of three big rural properties on Tasmania's east coast that have sold recently.
00:09It's transferred from Tasmanian hands into Tasmanian hands.
00:13So local investment has bought those properties with a predominant focus around the lifestyle
00:19and the aesthetics of those properties that they offer, less to do with the actual agricultural side.
00:25Rebbin's new owner John Kelly, the former State Cinema owner and current Hobart councillor, has a very Tasmanian link to the property.
00:35Five generations ago my great great grandfather came out from Dublin as a convict and spent time on Mariah Island which is just five kilometres straight over there.
00:47He paid around 15 million dollars for the property which includes 10 kilometres of beaches.
00:54To be in this precinct here with Mercury Passage, spectacular Mariah Island as a backdrop, with heritage buildings, it really doesn't get much better.
01:06While Rebbin is considered a lifestyle piece of rural property, Tasmania is also known for some seriously productive farmland.
01:15The market for rural land in Tasmania has stabilised after some big peaks in 2022.
01:21What has increased is demand from interstate buyers drawn to the climate and more importantly the availability of water.
01:31Predominantly that's coming from South Australia and Victoria which is a reflection again on their diabolical seasonal conditions.
01:43That's a 34% increase in interstate interest in the past 12 months.
01:50They obviously want to plan and de-risk the process so that their cropping yields or grazing yields across the property have less fluctuations.
02:00Water security provides that in droves.
02:03With demand for dairy land rising above others, due diligence is underway on a big northeast property.
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