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.

Wilson's thrilling win at Tahiti ignites world title claims

CHAMP: Julian Wilson won the Billabong Pro Tahiti to move to fifth in the world rankings.

'I was already enjoying myself on tour but now even more-so.'

Mum killed by truck an 'amazing, lovely, caring friend'

Sharon Cuthbert was killed after being hit by a truck in Coolum on July 27.

Tributes come pouring in for a Coolum woman who died last night

Why this hall's celebration is more a lament

THE Coolum Community Hall in its original location on the David Low Way where McDonald's now stands. Photo: Blair McNamara.

Why for one community hall festival won't be a celebration

Local Partners

Queensland freezes as temps fall as low as -3.7°C

QUEENSLAND towns have shivered through the coldest morning in two years today as other parts of the state dropped to below freezing temperatures.

Jemma's bewitching voice

STAGE PRESENCE: Suzie Mathers and Jemma Rix in a scene from Wicked The Musical.

Wicked musical theatre star Jemma Rix has released her debut album.

This laughter yoga video will have you in fits of giggles

BEST MEDICINE: Karen Flannery is spreading happiness through laughter throughout Hervey Bay.

New members needed for a laughing good time

Dancers show off skills at Toowoomba Eisteddfod

Milla Rowbotham and Rebecca Gill from All Star Dance Academy .Toowoomba Eisteddfod, Empire Theatre. August 2017

Poems and dances dominated the 72nd City of Toowoomba Eisteddfod

Radio host Matt Okine leaps to small screen

Funnyman talks about the inspiration behind his show, The Other Guy.

Hollywood’s new highest paid actress

Jennifer Lawrence had to settle for third this year behind Emma Stone and Jennifer Aniston.

CAN you guess who has dethroned Jennifer Lawrence?

Movie trailer dubbed too racy for TV

Alicia Vikander stars in Tulip Fever.

THE trailer for Tulip Fever is so saucy some networks have banned it

Liz Hurley, 52, has never looked better

She’s definitely not shy to pose in a bikini.

Life in your 50s has never looked as good as it does on Liz Hurley.

Big Bang Theory star spills details about Season 11

Mayim Bialik plays Amy Farrah Fowler on The Big Bang Theory.

MAYIM Bialik has shared some details about what fans can expect.

The Bachelor Australia: Awful joke leaves Matty stunned

Sharlene’s mouth hangs agape after her car crash breakup.

I’m actually one of the bachelorettes — I’m not the external caterer

Samsung set for bigger, beach friendly Note 8

Samsung will be going bigger than ever to launch its Note 8 after this year's launch of the S8.

Water, dust, now sand-resistant?

EXPLAINED: What the 'Costco effect' means for Ipswich

PRICE WARS: A Costco store similar to this one in Canberra, is planned for Ipswich.

Exclusive 'cult' about to change how families do grocery shopping

4800 homes to be built in massive new Coast estate

Masterplanned community full steam ahead - it's not Caloundra South

Open for inspection homes August 17 - 23

Check out this weekend's homes open for inspection.

Airbnb, Stayz and co tipped to squeeze Coast housing market

HOLIDAY BOOM: Airbnb letting is putting a further squeeze on long-term rentals.

Councils exploring options to manage the industry

How we got a rental straight away on the Coast

Rita and David Allara, moved down from Townsville, paid three months up front rent to secure the place at flash new unit block in Kings Beach.

Genius move helps secure rental property

Ready to SELL your property?

Post Your Ad Here!