Farmer to farmer sales solid in Narromine, Trangie: HTW

Farmer to farmer sales solid in Narromine, Trangie: HTW
Farmer to farmer sales solid in Narromine, Trangie: HTW

The central NSW district of Narromine and Trangie have and a substantial increase in farmer to farmer sales due to what is described by HTW as good quality dry land cultivation country.

HTW cited the sale of Grainswood North as one such example. 

"This property is located 50 kilometres south-west of Narromine and is a 600 hectare open farming block with red brown and grey loam soils and sold under the hammer for just over $1.2 million," HTW said. 

"There were limited improvements and on an overall basis this equates to $2,042 per hectare or $826 per acre. The adjoining property Grainswood was also put to auction and was passed in however sold soon after at an undisclosed amount believed to be around the $1.5 million mark. This property is 826 hectares in size and at $1.5 million equates to approximately $1,815 per hectare overall.  

"This property included approximately 680 hectares of farming country with the balance open grazing. Both of these sales would be considered strong and indicate a strengthening of the underlying dry land cultivation values of approximately 15 percent over the past 12 to 18 months."

Tags: 
Rural Commercial Market

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