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Queensland Rural Debt Survey

About the report

Over time, farmers and rural enterprises have financed debt through commercial credit providers, principally by the major trading banks and lending institutions including QRIDA. Rural businesses operate in a dynamic environment and debt levels continue to be impacted by many factors such as asset price, markets and weather.

QRIDA has delivered the 2025 Rural Debt Survey in collaboration with the Queensland Government Statistician's Office (QGSO) and with data from all the major rural lending institutions in Queensland and insights from industry bodies.

This survey plays an important role in shaping government and industry policy relating to primary production enterprises in Queensland. The final report was tabled on 11 September 2026 by the Minister for Natural Resources and Mines, Minister for Manufacturing and Minister for Regional and Rural Development, the Hon Dale Last MP.

Under the Rural and Regional Adjustment Act 1994 (Qld) and the Farm Debt Mediation Act 2017 (Qld), QRIDA is required by the Queensland Parliament to undertake a rural debt survey in Queensland every two years.

Rural debt is defined as the total indebtedness of all farmers or rural enterprises throughout Queensland, where the servicing of the rural debt relies primarily on rural generated income.

Report summary

Total rural debt in Queensland was $36.47 billion as at 31 December 2025, up 17.00 per cent from the previous 2023 survey. The average debt per borrower was $2.41 million, up 29.95 per cent and the number of rural borrowers was 15,125 down, 9.96 per cent from 2023.

The December 2023 to December 2025 period for Queensland agriculture has been positive in terms of the growth in the state Rural Gross Value of Product (GVP) by $2,069 million or 10.69 per cent. 

This increase in state rural GVP performance is a result of improved climactic conditions across Queensland resulting in no drought declarations in any rural regions over the survey period, and a growing demand for Queensland and Australian agriculture products. However, the changing market and environmental conditions did not translate into improved net farm cash income, with farm cash income declining over the reporting period by 50.43 per cent. This reduction can in some respects be attributed to the significant increase in Queensland farm cash costs increasing by 36.44 per cent over the same period.

Overall, rural debt has grown throughout the survey period, and the quality of the debt has also declined slightly. 

In the period 2023 to 2025, debt rated viable (A) or potentially viable (B+) accounted for 96.06 per cent of total debt, a slight decline over the survey period. The proportion of debt in B2 and C categories increased slightly to 2.16 per cent, a 0.77 per cent increase.

Ten industry sectors recorded an increase in debt, with beef recording the largest, a $3.26 billion increase. This increase can be attributed to a combination of improved farm gate prices for beef and the significant increase in rural land values. The second largest increase was for horticulture – tree crops, with a $468 million increase. A number of industries reported a reduction in debt levels, led by marine and ‘other industries’ with reductions of $33.06 million and $38.44 million respectively. 

Over the survey period, the total number and total value of rural property sales in Queensland increased by 5.29 per cent and 23.57 per cent, respectively. 

The average value of Queensland rural property sales has increased since 2023 by 17.46 per cent, reflecting the recent trend where the number of sales has plateaued while the total sales value has increased.