Western Australia's rural market see's hope in rain recovery: HTW Rural

After a dry start to the year, Western Australia has had some promising rain events in many agricultural regions, according to the latest report from Herron Todd White.

The valuation firm reported at the start of the year Minni Downs (pictured above), on Mount Sheridan Road, Varley was purchased for $8.9 million. This property was formerly three farms known as Fretwells, Mini Downs and Rockwater that were aggregated into one. The property has a total land area of 7,556 hectares and is serviced by two sets of structural improvements including houses and sheds. That sale price reflects $1,178 per hectare improved.

Conversely, In May, the Green Range locality Kangaroo Valley sold for $5.2 million. This property is approximately 1,375 hectares developed for cropping and grazing with structural improvements including a four-bedroom house and a number of sheds. This property is reasonably close to Albany on the South Coast and has highway frontage. Analysis of the sales price indicates $3,780 per hectare improved.

The property valuation firm concludes that environmental factors, and recent sales, confidence in the region is continuing to “lean towards the positive side of the scale.”