The total value of non-urban land used for primary production around Griffith increased from $456 million in July 2016 to $592 million in July 2017. 

The growth in Griffith’s Local Government Area rural land values is three times higher than it was the previous year, and almost double the state’s rural average rise of 16 per cent.

Robert Cavallaro says the surge is good news for farmers and rural entrepreneurs after those long drought years. 

‘It’s Griffith’s time to shine”.

“A number of people are coming to us interested in buying irrigation land but there’s very limited stock available”. 

Brendan Catanzariti, Elders Real Estate, says land prices in the MIA are mirroring the booming agricultural sector.

“The increases relate to what’s happening in Griffith more generally”. 

“The orange market, for example, is the strongest its been in a long while. Grapes and cotton are also going well,”

“When things are going well, people will always look to expand… they will pay more for agricultural land”. 

Hanwood appears to be booming, with the price of land in the Crawford Road area up 45 per cent. 

The Valuer General’s report notes land used by the cotton industry has experienced “very strong” growth of 44 per cent. 

Commercial and residential land, used for business and housing in mostly urban area, has experience moderate growth of 10 and 9 per cent respectively. 

Some of the biggest growth is in the area around Lake Wyangan. Mancini Dr, for example, has risen 20 per cent in value. 

“Increases in residential land reflect both the low interest rates and a shortage of available land,” Mr Catanzariti said. 

Mr Cavallaro said despite the increase, Griffith remains a good place to invest.

“If you look at how high prices are in other places, people don’t realise how lucky they are here”.  

“It’s a lot cheaper to buy than rent in Griffith”. 

The average price of a how to rent is now $330 in Griffith, with a chronic shortage in properties for lease.