news, local-news, bill ower, real estate, property, cropping land, auction, west wimmera, blackheath
The owners of a 320-acre block of cropping land in Blackheath are elated are selling their property for more than $1.2 million. Bill Ower Real Estate Horsham auctioned off the parcel of land on Friday, February 19. The property, which had been used for sowing wheat and barley, contained three paddocks, a pipeline water connection, and a small area of native timber. Bill Ower said about 80 people attended the auction and started slowly but bidding soon rose to a fair price. "The property was a very, very nice and attractive block," he said. "Very heavy Wimmera cropping soil, an attractive block in a good location mid way between Blue Ribbon Road and the Henty Highway." Bidding started at $3000 an acre and rose in $50 increments to $4800. Mr Ower said he referred to the vendor for final instructions where the auction continued at $25 increments to $5450 an acre. READ MORE: The property was sold to Kardella Plains Pty Ltd as trustee for the Kardella Plains Trust. Mr Ower said the final price was a good figure, with interest in similar properties increasing across the board. "There's a great demand at the present time. That is being drive by a couple of things like low interest rates and the lack of availability of land," he said. "We are not seeing a lot of small blocks come on the market, so peoples opportunity to buy is limited. "One of the other things we are seeing is, Australian land prices have been fairly low compared to other countries in the world, and we are gradually catching up. "Not all together, but certainly the margin is less now than it used to be. Especially with countries like New Zealand, America and England." Did you know you can receive updates straight to your inbox? To make sure you're up-to-date with news from across the region, sign up below.
PRIME CROPPING: The auction of the Blackheath property (pictured) was held at the Sailors Home Hall in Murra Warra. Picture: CONTRIBUTED
The owners of a 320-acre block of cropping land in Blackheath are elated are selling their property for more than $1.2 million.
Bill Ower Real Estate Horsham auctioned off the parcel of land on Friday, February 19.
The property, which had been used for sowing wheat and barley, contained three paddocks, a pipeline water connection, and a small area of native timber.
Bill Ower said about 80 people attended the auction and started slowly but bidding soon rose to a fair price.
"The property was a very, very nice and attractive block," he said.
"Very heavy Wimmera cropping soil, an attractive block in a good location mid way between Blue Ribbon Road and the Henty Highway."
Bidding started at $3000 an acre and rose in $50 increments to $4800. Mr Ower said he referred to the vendor for final instructions where the auction continued at $25 increments to $5450 an acre.
The property was sold to Kardella Plains Pty Ltd as trustee for the Kardella Plains Trust.
Mr Ower said the final price was a good figure, with interest in similar properties increasing across the board.
"There's a great demand at the present time. That is being drive by a couple of things like low interest rates and the lack of availability of land," he said.
"We are not seeing a lot of small blocks come on the market, so peoples opportunity to buy is limited.
"One of the other things we are seeing is, Australian land prices have been fairly low compared to other countries in the world, and we are gradually catching up.
"Not all together, but certainly the margin is less now than it used to be. Especially with countries like New Zealand, America and England."
Did you know you can receive updates straight to your inbox? To make sure you're up-to-date with news from across the region, sign up below.
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