Billions of dollars worth of rural property is up for sale across Australia as the global credit crisis - and the age-old pressures of low returns and high debt - force owners, both big and small, to sell up.
"Early indications are that much more property will come onto the market," the principal of Ray White Rural, Lex Heinemann, told The Australian Financial Review.
"We look on 2009 as being very challenging. Suffice to say, it definitely appears a buyers' market and buyers should receive increasingly good value for money in 2009."
Falling interest rates, improved commodity prices, above-average rain for most regions in the past three months, and a weaker Australian dollar will go some way to supporting the rural sector.
However, the sheer volume of property on the market - and the uncertainties of the credit crisis - will keep pressure on prices.
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