"Misery Farm" was written in 1929 by Jay Wallis. I haven't found bibliographic info on him, but the National Library of Australia has a copy of his sheet music for "Misery Farm" dated 1929, published in Melbourne (sadly, no online scan). The song was recorded by Leslie Sarony prior to his writing and recording "Jollity Farm", also in 1929.

YouTube has a 78 sound clip of Tommy Handley singing "Misery Farm"; on very cursory hearing, his lyrics seem a bit different from those posted by Snuffy, at least in the first verse. YouTube also has several clips of "Jollity Farm" from 1929 78's (by Hal Payne, Billy Haymes and Jack Swain).

I'm polishing up some additional lyrics for "Jollity Farm" which I might post here.