Irrigation property at Joyces Creek near Maryborough makes more than $23k a ha
A cropping and irrigation farm near Maryborough has made more than $23,800 a hectare or $9666 an acre as the rural property market’s red hot run continues.
THE property market’s golden run continues as farms sold for strong prices under the hammer last week.
An irrigation property at Joyces Creek near Maryborough in Central Victoria sold for $3.4 million – equating to $23,876 a ha, or $9666 an acre.
The 142ha property featured a 450ml water licence as well as two large dams.
Selling agent Adrian Smith from Nutrien Harcourts said the property made a little more than anticipated.
“It is a tightly held area and the property was purchased by a local buyer,” Mr Smith said.
In the North East, a 67ha property on Tankards Road at Talgarno, sold for $2.24 million – equating to $44,234 a ha or $13,455 an acre.
The property is located near the shores of Lake Hume and had been used to run a sheep enterprise but has the potential for subdivision.
Selling agent Tom Hanrahan from Brian Unthank Real Estate said the price was about where he expected it to be.
“The result was pleasing, the property has nice views and is in a high profile location,” Mr Hanrahan said.
The Weekly Times recently reported the autumn property market is running hot with farms across the country selling for record prices.
Low interest rates, strong seasonal conditions and commodity prices as well as investor appetite is said to be behind the red-hot market.
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