A HORSHAM agent says interest was strong towards northern farm properties in the region despite unfavourable conditions.
Elders Real Estate Horsham sales representative John Nevill said the consistent dry weather for northern Wimmera farm properties has not deterred interest of buyers. He said the conditions of the region will not hold a big influence on the land price.
“I would consider that the prices would not be affected too much by the dry conditions in that region north of Horsham because there are not a lot of properties on the market,” he said.
“That is driving the price at the moment and there is not a lot of quality properties on the market so when one does come up there’s quite a bit of competition.”
Mr Nevill said properties south of Horsham – Edenhope to Harrow, Clear Lake and Brimpaen – have not struggled to find interest either.
“We are hearing that properties are already selling this month and making very good money,” he said. “It has had a much better season and there is not a lot of properties on the market being tightly held throughout the region.”
Mr Nevill said the properties that have more reliable seasons could make in excess $3000 an acre. He said last year properties in Natimuk and Vectis sold for over $4000 an acre.
“We would consider that achievable for this year for the top quality cropping country,” he said.
However, Mr Nevill said he could not “envision huge increases in prices” because farm property spiked in the past five years.
“The cropping country has doubled in five years while the mixed country – cropping and grazing – is up 30 per cent,” he said. “Pure grazing country hasn’t as much, but it is still in demand, but there is mostly an emphasis on cropping country for the Wimmera.
“The mixed farming country has certainly increased its value over the last five years and properties sold around the Harrow and Miga Lake areas have made very good money.”