Signs of comeback for vineyards

A spate of vineyard sales is kindling hopes that the slide in land ­values has finally been halted after four years of accelerating misery for Australia’s grapegrowers. In November Casella Wines, which produces the Yellow Tail label, snapped up two Langhorne Creek properties, spanning 360 hectares, for $6.2 million after the only listed landowner in the sector, Cheviot ­Kirribily Vineyard Property Group, was forced into liquidation, The Australian Financial Review reports.