Keen buyer inquiry for irrigation properties in Echuca: HTW

There is currently good inquiry for larger scale irrigation properties for investment entities looking at assets in excess of $10 million in Echuca, according to Herron Todd White’s latest report.

The property valuation firm says that this demand has been underpinned by the strong 2016 seasonal conditions and the good water resource position and reduced allocation water markets.

It will be interesting to see how the market responds coming out of the 2016/17 season with significantly improved balance sheets relative to 2015/16 despite disappointing grain prices.

Agents report that because of the reduced listings in south west Victoria through the latter part of 2016, the rural property market for 2017 commenced with less than usual stock of property put to the market and this has contributed to a slower than usual kick off for 2017.

There is no denying confidence continues at an all time high, particularly for beef and sheep producers.

Even the dairy industry is continuing to show signs of improving which should translate to the property market. Watch this space.

The limited market activity has been primarily either farmers over the fence expanding and investors seeking scale and quality.

A 23 acre land at 208 Anderson Road, Echuca (above) has been listed for sale. It last sold for $92,000 in 1993.

Similarly a mixed farming land at 163 Poulson Road, Rushworth has been listed for $205,000, having last traded for $70,000 in 1985.