Southern Australian farm sales fall due to drought, with weather seen as key to recovery.

Southern Australian farm sales have significantly declined due to prolonged droughts, particularly affecting South Australia. Despite interest rate cuts, Elders Ltd reports that buyers and sellers are hesitant to engage until rainfall improves, suggesting that weather will be the key driver of farm property values in the coming months. While Victoria and Tasmania saw an increase in property prices towards the end of last year, overall sales volumes remain low.