Riverland land value dropsWednesday, 13/06/2007Land values of...

Riverland land value drops

Wednesday, 13/06/2007

Land values of irrigated properties in South Australia's Riverland have fallen 20 per cent over the past year.

The Valuer General's Office says the drop has been caused by the drought and uncertainty over water allocations for the coming season.

Supervising valuer Tony Randall says other irrigated areas in the state have not been as heavily affected.

"There haven't been many sales but there is quite a lot of properties on the market," he said.

"We've reached a conclusion [that] the Riverland was most affected in the state because it's so heavily reliant on Murray water

"Other irrigation areas have been buffered [and] they haven't had the threat of allocations already been cut."

http://www.abc.net.au/rural/news/content/2006/s1950126.htm