A life on the land has started to attract interest with one of Cowra’s farming properties being sold for the record price of $1,779,928.
“Amarok”, an arable, red loam, farming country property that is suitable for stock and cropping was sold at auction for the record price last week.
Auctioneer James Keady, said it was the first time he had seen bidders attempting to buy property for someone else.
“This was, for the first time that I know of in 20 years, where the bulk of the bidders were fathers buying land for their sons,” he said.
“Which was incredible, we had over 50 inquiries on the property, 24 inspections, 14 registered bidders of those 14, 10 were locals and out of that 10, eight bidders were buying for their sons.
“I think it’s a good thing and it’s a great thing given that the average age of farmers today is 52.
“There is money in land, it used to be putting a son on the land was like child abuse but the money is now coming back to the bush, we have some of the best farmers in the world here.
“It’s the best time to be farming now, every thing is good except for wheat and it’s improving, cattle has never been this expensive, lamb has been this expensive before, wool is very strong and canola is strong.”
Mr Keady said the price the property had received even had him considering selling his land.
“The property has 542 acres and made $3284 per acre, it has a shearing shed, an old machinery shed, but not a lot of improvements to it,” he said.
“I was hoping it would make $3000 an acre and was pretty confident of it making that $3000, but once we got above that I was surprised.
“We’ve been calling for property listings at the moment, I’ve never had so few listings so with these prices might encourage some people to put their property on the market,” he said.