Farming properties encompasses a wide spectrum of different farming activities.
- Horticulture activities like grain, vegetables, flowers, fruit, nuts, etc. Typically, it pertains to commercial grain farming, vegetable production, orchards, vineyards, sugar cane, forestry, as well as specialised plant crops, tunnels, hydroponics, etc. It covers the spectrum of annual, biennial, and perennial plants.
- Livestock and poultry farming that includes cattle, sheep, goats, chicken, game.
- Various combinations of mixed farming.
Due to differences between farming properties,- activities and -business models, the valuation methods can differ between properties and activities. Land values are usually determined by comparable sales analysis while different perennial fruiting crops and plantations will be valued with cognisance of e.g. age, topography, yields, water rights, water availability, and the produce market. Possible pending- or real land claims, access to markets, produce types, mixed farming for e.g. risk reduction and sustained cash flows, etc. can also impact on market values. Livestock like cattle and game, will be valued separately – more akin to movable assets.