News

The U.S is buying Australia's agricultural land

The U.S is the biggest international investor into Australian agricultural land.
The U.S is the biggest international investor into Australian agricultural land. Jamie Brown

INVESTMENT in Australia's agricultural land has soared to $4.6 billion, with the bulk of that coming from the US.

American investors spent $1.3 billion buying Aussie farmland in 2015-16, with China hot on their heels with investments totalling $996 million.

The figures were revealed in the Foreign Investment ­Review Board's annual report for 2015-16, released last week.

It shows investment in Aussie farms has jumped to $4.6 billion - almost double the $2.5 billion recorded in the previous year.

The increase was due to the Government lowering the FIRB's agricultural land screening thresholds in March 2015, from $252 million to $15 million for agricultural land and $55 million for agribusinesses.

"Due to this change, around 110 proposals for agricultural land, valued at approximately $1.4 billion, were screened in 2015-16 that otherwise would not have been screened previously," the report read.

China's investments ­included the $280 million purchase of Tasmania's Van Diemen's Dairy.

The UK invested $338 million - well behind the US and China - to be the third-largest source country in 2015-16, followed by Singapore with $264 million.

CBRE regional director for agribusiness Danny Thomas said the figures were not surprising and expected the growth in agricultural investment to continue.

"We're seen by the rest of the world as a politically stable environment, and with the ­exchange rates ... we look like good value," Mr Thomas said.

He said CBRE had seen a slowdown in inquiries from mainland China but he expec­ted capital to continue coming from Hong Kong.

One to watch, however, was Canada, which invested $240 million for 2015-16.

"There's a whole lot of pension funds, institutional investors that are used to investing in natural resources and agriculture on North and South America," Mr Thomas said.

"It's simply a natural extension of their investment programs that they're now starting to look at Australia and New Zealand."

The FIRB report showed there were 227 agricultural sector approvals - a fraction of the 41,445 approvals across all sectors, and accounting for just 2 per cent of the $247.9 billion investment across Australia.

News Corp Australia

Topics:  agriculture editors picks farming property real estate united states


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Racing returns to Dalby motocross track

LET'S ROLL: The Go Girl Australia Racing series hits Dalby this weekend.

Competitive racing is back in town

Man found not guilty of child rape charge

NOT GUILTY: Man was acquitted of child rape allegation.

A jury has found a man not guilty of child rape in a Dalby court

Man airlifted, Warrego Hwy shut after machinery incident

A Chinchilla man in his 50s will be airlifted to hospital after an incident on the Warrego Highway, 8km west of Chinchilla, around midday.

Motorists are urged to avoid the area about 10km west of Chinchilla

Local Partners

New lookout at Myall Creek

The bridge will be closed to pedestrian access from next week until the end of June for construction.

What to expect at Birds of Tokyo's Ipswich gig

The band will perform at the Racehorse Hotel on Friday.

BAND member Glen Sarangapany talks music, pub grub and doing shoeys

What public holidays are left in 2017

Ipswich residents will get the day off tomorrow for the show.

IPSWICH residents will get tomorrow off for the show

Caitlyn comes home to launch debut album

Gympie's Caitlyn Shadbolt will launch here debut album Songs On My Sleeve at an exclusive all-ages concert in Gympie on Friday, May 26.

Win tickets to Caitlyn's album launch

Dreamworld may supersize with 'Disneyland expansion'

OWNERS of icon Gold Coast theme park Dreamworld want to super-size the site with accommodation and entertainment to turn it into Australia’s Disneyland.

World’s strongest man reveals incredible 12,000 calorie diet

Brian Shaw won his 4th World's Strongest Man title. Source: Twitter

World’s strongest man reveals incredible 12,000-calorie diet

ABC2 slammed over football exhibition match coverage

Fans weren't too happy with ABC2's coverage of Wednesday night's game.

ABC2 slammed for coverage of soccer exhibition match

'Bulls--t!' Lisa Wilkinson grilled over Karl's pay packet

Join us for a Great Night as we Proudly present Lisa Wilkinson

“And you believe everything you read?”

Rebel Wilson trial: The secret we never could have known

Rebel Wilson outside court

“Most people wouldn’t know it exists,” she said.

Janet’s back in the ring

Marta Dusseldorp returns in season three of the TV series Janet King.

Season three of ABC's legal drama delves deeper than ever before.

Game of Thrones drops new trailer for season 7

Game of Thrones fans have been given a new trailer for season 7.

Fans are finally getting a full-throttled peak at season seven.

Open for inspection homes May 25-31

Check out this weekend's homes open for inspection

How Toowoomba house prices compare in Australia

For sale sign in front of home.

Here's what $700,000 will buy you in Toowoomba, Brisbane and Sydney

One of Maryborough's most historic homes is still for sale

FULL OF HISTORY: Trisha Moulds is owner of the historic Tinana state known as Rosehill. The beautiful home is currently for sale.

It has been the scene of both joy and tragedies over the years.

The face of the Sunshine Coast's overpriced rental crisis

Alyx Wilson had to rent a $385 unit in Currimundi because the market was too competitive for cheaper rental housing. She is now renting a room from friends who own a house in Currimundi, and says its much more affordable.

Young people feel the strain in competitive, expensive rental market

Ready to SELL your property?

Post Your Ad Here!