The rural property market in the Esperance and South East region of Western Australia has seen a resurgence in buyer interest, driven by an improved supply of quality properties. According to Rowan Spittle, a property specialist with AWN, this consolidation follows a volatile period marked by highs in 2023, lows in 2024, and subsequent growth in 2025.
Market Trends and Property Values
Spittle noted that the market dynamics began to shift significantly in 2023, when the region experienced an exceptionally competitive property environment with limited supply. That year, sandplain properties commanded prices as high as $16,061 per arable hectare, while transitional mallee properties reached $19,846 per arable hectare in late spring and early summer. Unfortunately, an uncharacteristically dry spring resulted in disappointing yields for many farmers, leading to a notable decrease in sales activity.
As 2024 progressed, the number of properties available for sale increased, particularly in the sandplain category. However, local buyer interest remained muted, influenced by rising interest rates and a stronger emphasis on profitability. Spittle remarked, “Farmers had lost their fear of missing out and were prepared to wait for the right property to come along.”
Despite this cautious approach, the end of 2024 brought average or better cropping yields, which helped stabilize the market. Spittle estimated that land prices experienced a decline of about 15% during this period, reflecting the overall sentiment of the market.
2025: A Year of Recovery
Entering 2025, the landscape shifted again, with favorable sowing conditions leading to remarkable harvest results from Salmon Gums to the coastline. This positive outcome contributed to a renewed interest in purchasing and leasing properties. Spittle reported that the property market strengthened by approximately 7-10%, recovering some of the losses experienced in the previous year.
Highlighting the market activity, Spittle mentioned the sale of The Oaks in July 2025, a joint effort between AWN and Colliers, which sold for over $50 million, translating to more than $12,890 per arable hectare. This significant transaction established a new baseline for rural land prices in the region.
Despite the positive trends, Spittle cautioned that some properties, particularly those requiring further improvement, remained slow to sell or unsold altogether. The demand for quality farmland has become increasingly competitive, with local farming families driving the purchasing power.
Looking ahead, Spittle anticipates that 2026 will mirror the current market conditions, with modest growth influenced by factors such as the growing season and farmers’ outlook on medium-term profitability in the region.
As the rural property market continues to evolve, the focus on quality and strategic investment will likely shape its trajectory in the years to come.
