Despite the drought, buyers continue to pay up for quality rural properties, as evidenced by strong results from a series of auctions in Sydney last week co-hosted by Webster Nolan Real Estate.
Principal, David Nolan, said five properties offered for sale by Webster Nolan in conjunction with local agents had sold either under the hammer, pre-auction or post-auction, for a combined gross of more than $15 million.
Heading the list was Curry Flat, the Nimmitabel grazing property previewed in The Land on September 19, and offered for sale by Webster Nolan and Monaro Livestock and Property, Cooma.
Held by the Jardine family since 1862, the 1262ha property sold at auction for $4.63 million or $3668/ha ($1485/ac) to James and Penny Larritt and family of Woodstock, Cooma.
Also sold at auction were Paradise Point, a 32ha waterfront lifestyle property at Narooma marketed jointly with Whale Coast Realty, which fetched $3.162m to a Sydney family, and Briar Vale at Harden, held since 1860 by the Irving family.
Owned now by Les Hawking and his wife Kerry (nee Irving), the 258ha Briar Vale was marketed in conjunction with Elders Gundagai and sold for $2m or $7751/ha ($3135/ac) to The King's School, whose Futter Park property adjoins.
Also co-marketed with Elders Gundagai was Yellow Creek, the 173ha (428ac) Tumblong property of John and Gayle Jones, which sold before auction to Sydney interests for an undisclosed price higher than the agents' pre-sale estimate of $1.6-$1.8m.
A significant post-auction sale was that of Templemore at Merriwa, co-listed with Flood Rural and Water of Muswellbrook on behalf of the local Yore family's Dapkos trading company.
Carrying up to 400 cows, the 1372ha (3395ac) basalt-soil property had gone to auction with a $4-$4.7m expectation and was sold for an undisclosed price to a local family with agricultural interests.