The south-west’s reliable rainfall compared to other areas that have suffered dry conditions played a big part in the $940,000 paid for a 80.9 hectare (200 acre) outpaddock at Tyrendarra-Ettrick.
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Elders Warrnambool rural property consultant Tom Luxton said about 65 people attended the auction at the Tyrendarra Football Pavilion on Friday.
The property comprised six mostly well-fenced paddocks that contained robust stands of grass ready to be harvested by the successful bidder.
The paddocks had not been stocked since June, this year.
They had been used as grazing paddocks for sheep and cattle.
Bidding started at $3200 an acre and rose in $100/acre increments to $4300/acre before settling to $50/acre increments to reach the selling price of $4700/acre.
A local grazier was the successful bidder.
Mr Luxton said there were four active bidders including one grazier from northern Victoria who was looking for greener pastures.
There were four active bidders for the property including one grazier from northern Victoria who was looking for greener pastures.
- Tom Luxton
