Food and fibre exports in Victoria were $11.4 billion in 2013-14, a rise of $1.2 billion, or 12 per cent, on the previous year, reflecting the general good health of the rural sector.

Meat exports rose to be the state's highest-value export, up 36 per cent to $2.34 billion, while dairy increased by 23 per cent to $2.29 billion, and horticulture experts were up 48 per cent to $894 million due to demand for almonds, table grapes and citrus.

Colliers associate director, valuation in rural and agribusiness, Nick Cranna, said the buoyancy of the agricultural sector would have a flow-on effect on land values. "But you're looking at six to 12 months for that to come through," he said.

From being well above 90 cents to the US dollar, the Australian dollar has now fallen to about 87 US cents. "The lower Aussie dollar is fantastic for agriculture," Mr Cranna said.

Despite the good agricultural outlook, hobby farms continue to be a driver of rural sales. Landmark Harcourts figures show that in the 12 months to the end of June, there was $2.72 billion worth of agricultural property sales in Victoria, with 68.2 per cent of sales on less than 40 hectares of land.

In the category up to 40hectares, there were more than 5400 sales valued at more than $1.8 billion. The median price ranged from $155,000 in the north-west to $490,000 around Geelong.

In the 40ha-100ha category, there were 879 sales valued at $376 million, with a median price ranging from $200,000 in the north-west to $623,000 around Geelong.

There were 672 sales of farms bigger than 400 hectares, totalling $456 million. The median price was the largest around Warrnambool in the south-west ($2.08 million) in the 400ha-2000ha category. The lowest median price in the 100ha-400ha category was $366,000 in the north-west.

Victoria's Landmark Harcourts chief, Jason Hellyer, said in the past 12 months, there had been far more transactions than the previous year. However, now it had slowed.

Mr Hellyer attributed this to fears about where commodity prices were heading, and the weather. The mood was not to sell, but more "we will stay put for a year".

Mr Hellyer said big corporate players and international companies were less attracted to Victoria because the farms in general were too small. "The scale does not trigger interest," he said. "They want scale and processing or packing nearby."

Interest in Victorian farms was more likely to come from a family business with a business plan that was about sustain ability and growth.

To succeed, Mr Hellyer said farmers had to be better skilled and knowledgeable, from agronomy skills to familiarity with international commodity prices.

Real estate agents had to become consultants as well as salesmen to make them aware of the complexity of issues that would affect the value of their property.

"Farmers will then garner more interest in their property and a better price," he said.