Record land prices in Noradjuha

A HORSHAM property valuer believes a strong harvest in the Wimmera has led to record land sales.

Franz Tursi, from Franz J. Tursi and Associates, said 259 hectares sold at Noradjuha for about $2360 a hectare.

"It is a very solid sale," he said.

"It could almost be a record - it's certainly a strong sale."

He said the Noradjuha district was experiencing good land sales.

Mr Tursi said land had been selling for about $1700 to $2200 an acre in the Wimmera.

"It just shows the effects of good seasonal outcomes and the general strength of the Wimmera," he said.

Mr Tuss said previous seasons had also resulted in good sales, but they were not necessarily record-breaking.

A good Wimmera harvest also meant more farmers finished the season with money in their pockets.

"If people have done reasonably well at harvest in the past few years, then they are prepared to spend a dollar as well," Mr Tursi said.

"But there is only so much land available and once it's all gone, there's nothing left.

"It's an old adage, but does rear its head all the time."

Mr Tursi said record land sales fuelled optimism in the region.

Residential sales also remained steady.

"Horsham remains a very strong locality," he said. "This is reflected through prices of residential properties which remain strong.

"Nhill is a very strong community and residential-wise, it remains solid."

Mr Tursi said people were also more willing to invest in property.

"If people can see they are going to get a good market or bank interest return, they will invest in bricks and mortar," he said.

Smartphone
Tablet - Narrow
Tablet - Wide
Desktop