AUSTRALIA-BIG FARMS SELLING LIKE HOT CAKES.
Broadacre farming country and grazing land in the State’s climatically favoured North West remain in buyers’ sights, with a string of sales last week clocking up more than $15 million.
And unlike recent headline sales, these were not mega-transactions involving cashed-up institutional buyers, but sales of medium-sized properties, predominantly to existing family farmers.
Starting the run of sales was Ray White Rural Moree with the auction last Wednesday of "Gundy", a 1561-hectare broadacre cropping property north of Moree owned by Peter and Dale Hamilton.
It sold under the hammer for a neat $5m or about $3203/ha ($1296/acre) to Richard and Elaine Browning of Moree, who plan to exploit its full moisture profile with a winter crop of chickpeas.
The Hamiltons, meanwhile, used their sale of "Gundy" to lodge a tender bid later in the week for "Ulumbarella", the long-held McDouall family cattle property in the Horton Valley.