Three Gympie region farms crack million-dollar mark

Farmland across the region has proven to be a gold mine as big sale prices continue to be hauled in

A farm at Coondoo which sold for $1.2m is one of three rural sales across the region to crack the million-dollar mark in the past two months. Picture: CoreLogic

Farmland across the Gympie region continues to be a real estate gold mine, highlighted by the sale of three farms for a combined $5.5m in the past two months.

The biggest deal was sealed in Kandanga, where an 82ha cattle farm on Goomong Rd was bought by Pump Star for $2.4m.

The Beerwah-based fresh produce company also owns property at Bracalba and Ocean View.

It was the first time the Goomong Rd property, which is just off the Mary Valley Highway, had sold on the market.

The Coondoo Springs farm. Picture: CoreLogic

Northeast of the city, the 76ha Coondoo Springs cattle farm at Coondoo was bought for $1.2m, almost $300,000 below the $1.49m asking price.

The final price tag was more than double the $500,000 sale price the Kin Kin Rd farm landed when it last changed hands in 2017.

West of Gympie, a 191ha Lower Wonga cattle farm spread across two lots on the southern edge of the Wide Bay Highway was bought by long-time Gympie businessman Alvin Corbet for a combined $2m.

The lots, each about 95ha in size, sold for $1.15m and $850,000 respectively in the transaction.

The farms’ sales are the latest in Gympie’s surging rural property market, where prices have jumped 7.3 per cent in the past decade.

Gympie farm prices have experienced the largest rise in South East Queensland in the past 10 years.

Originally published as Three Gympie region farms crack million-dollar mark