THE market for wine-producing properties remains tough following years of declining values, despite recent improvements in listings and transactions indicating that confidence is rising.
According to The Australian Financial Review, vineyard prices have fallen by 30 per cent to 50 per cent in the past few years, and Tim Altschwager of Colliers International said while there had been more buyers in the market following good returns, conditions were difficult.
He said a rise in fruit prices and some recent transactions were encouraging buyers back into the market. “If the grape price stays up, growers will have better returns, and production costs have been lower in areas where vines have been removed or have not produced this year,” he said. “A lot of people are still waiting. It all comes down to this year’s vintage whether people decide to buy,'” he said.
Mr Altschwager recently listed a portfolio of four vineyards in the Barossa Valley on behalf of a private owner. The properties are in the Tanunda and Stockyard areas.
Australian wine growers have cut back on the number of vines in production, but overall yields have increased thanks to good conditions.
The depressed vineyard market has led some growers to remove vines or not take them through to production this season.
The Australian Bureau of Statistics said the total area of vines nationwide has fallen by 6 per cent to 145,000 hectares since 2010. But grape production has risen 3 per cent to 1.6 million tonnes.
Good yields offset the drop in vine numbers. Overall yields were up 6 per cent to 11 tonnes a hectare thanks to good seasonal conditions.
While rain caused red wine production in southern and eastern Australia to fall 5 per cent to 806,000 tonnes, white wine production jumped 13 per cent. The bulk of the 776,000 tonnes of white grapes were picked before rains hit.
Colliers is also managing an off-market expressions of interest campaign for Chalmers Vineyard, which has 807 hectares of vines on 4200 hectares in NSW.
The vineyard produced about 22,000 tonnes this year and is one of the biggest pinot grigio producers in the country.
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