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Wine broker Stephen Strachan says vineyards in cooler climate regions such as Tasmania, the Yarra Valley and Mornington Peninsula are still sought after.
Riverland vineyards to make way for lifestyle estates as grape prices fall
The Petaluma Winery in the Adelaide Hills sold to family-owned Toressan Estate, one of the largest wine bottlers in the region.
Price expectations for the Hunter Valley vineyard, which dates back to 1895, are in excess of $10 million.
While boutique vineyards and those in premium locations are still sought-after, most growers are holding back on expansion due to the China tariffs.