South-west lifestyle properties sold for premium prices

Real estate agent Garry Chisholm said the 100-acre block on Kings Road was sold at auction on Friday for $8850 an acre.

Mr Chisholm said the vendor was delighted with the price achieved.

"It sold to very strong competition," he said.

Mr Chisholm said the opening bid was $7000 an acre.

He said he was hopeful of achieving between $8000 to $8100 an acre.

"It was a very good result for the vendor," he said.

"It's a beautiful piece of land - it's very well sheltered with plenty of water."

Mr Chisholm said huge demand for lifestyle blocks in the south-west had seen the price per acre more than double in some areas in recent years.

"We're in the middle of a pandemic but there's huge demand," he said.

A 196-acre parcel of land at Orford was also sold on Friday, with a price of $6500 per acre achieved.

"We had about 30 people at the auction," he said.

"Again there was very strong competition."

A second 106-acre parcel at Orford was passed in but sold shortly after for $7000 per acre.

Mr Chisholm said the parcels of land were sold to buyers from the south-west.

However, there is strong interest from interstate buyers.

"I think the prices are going to stay where they are for a while," he said.

"There's interest in land all over the district."

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