Western District farm auction sets new benchmark price at Macarthur

High rainfall land in Victoria’s Western District has found a new benchmark for the Macarthur region following last week’s auction.

Farmland at Macarthur in Victoria’s Western District has hit new highs, with this property selling for $19,661 a hectare.

THE opening bid was $12,000 per hectare and when the hammer fell, $19,661/ha or $7960 per acre was the new going-rate for farmland at Macarthur in Victoria’s Western District.

This price was 30 per cent up on what previous sales of similar quality land had made, according to Charles Stewart selling agent, Nick Adamson, although he was at pains to add “it was just one sale and should not been seen as a trend”.

“But no doubt, it is a new benchmark for the Macarthur district and up around 30 per cent on last year,” Mr Adamson said.

The 112ha $2.2 million farm, 4km south of Macarthur and 38km from Hamilton in the Western District, came with a humble two-stand timber woolshed and steel, undercover sheep yards, but no house.

The farm had been fenced into 10 paddocks, with a central laneway and a reliable stock water supply.

Last Friday’s auction at the Macarthur Recreation Reserve saw five active bidders with their hands up, all local families, according to Mr Adamson.

“It was bought by a local family with farming interests, looking at it for fodder purposes,” he said.

The land had been held by the Young and McDougall families for four generations prior to Friday’s auction.

Mr Adamson said coming out of COVID, and with the heightened interest in rural land, it was likely that more auctions would once again be a feature of how land was sold.

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