Sales statistics for the past 12 months continue to reflect ongoing rationalisation of the rural sector, and the resulting amalgamations and consolidations are driving record prices. This is especially so for pastoral and cropping properties. Other ke.y drivers operating in 2005-06 are: ongoing confidence in the beef industry, with the past year being part of the longest sustained period of high beef cattle prices seen in Australia; significant and sustained capital appreciation in many areas and across most industries, leading to decreased risk perception of an expansion strategy; across all markets, access to water rights has become a crucial factor in determining whether property purchases are justified and whether price premiums are achieved; increased demand for property from managed investment schemes (MIS), usually financed from non-rural income streams; and the ripple effect flowing from lifestyle property demand, with vendors re-buying further out.
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