A parcel of land in Clarkes Hill has sold for $740,000 – an increase of over $300,000 on a similar-sized Clarkes Hill block that was sold in March this year.
Professionals Ballarat real estate agent John McMahon says the 25 hectare (64 acre) block on Boundary Church Road was sold well in excess of the reserve price, and attracted three parties willing to do battle for ownership.
Mr McMahon said the usual price for land in the region was around $5,000 to $7,000 an acre, with irrigated land pushing up to $10,000 an acre.
This result sees land in the area now achieving almost $12,000 an acre for good quality profiles.
“It’s really positive sign for the agricultural industry, that people are willing to pay good prices for good land,” said Mr McMahon.
“This could be great fattening land for turning off cattle, or potato country.”
The previous lot, also in Boundary Church Road and comprising 69 acres, was sold in March 2016 for $430,000. It boasted a solar-operated stock and domestic bore and a 27,000 litre holding tank for supplying stock water.
Mr McMahon said the buyer of the $740,000 property was a local person.
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