Far north NSW rural property market strong

The rural property market around in far north New South Wales remains strong across most categories according to Herron Todd White's July report.

According to HTW, good quality avocado farms are in strong demand, with one example being the sale of Green Pigeon avocado farm, north-east of Kyogle, selling for around $5.12 million.

"This is a partly timbered 113 hectare red sandy loam soil farm in a high rainfall area with back up irrigation planted to about 5,720 mature Hass avocado trees," HTW said.

"Structural improvements include a dwelling, packing shed, machinery sheds and pump shed. The sale is understood to include plant and equipment. 

"The macadamia farm market remains strong.

"There appears to be a shortage of listings for sale of medium to large macadamia farms.

"Some small to medium size farms have been sold or are under negotiation on the Alstonville plateau in the general analysed value range of $65,000 to $85,000 per planted macadamia nut tree hectare.

"A 544.43 hectare beef cattle grazing property aggregation north-west of Kyogle with Eden and Chestnut Creek frontage has been sold for $3 million.

"The property has a stated carrying capacity of 450 breeding cows.

"This indicates a sale price of $5,510 per hectare or $6,667 per breeding cow overall. The property’s structural improvements include a main dwelling, machinery sheds, storage sheds and cattle yards. 

"Dry seasonal conditions in the Central West and Western NSW have affected the total area planned to sow to winter crops.

"Earlier sown crops require immediate rainfall to develop and the later planted crops will need a rain event to germinate.

"Some unusually cold weather and subsequent frosts have also weighed heavily on moisture levels in the area. 

"Irrigated and dryland cotton crops in the Macquarie Valley and Lachlan Valley have mostly been picked and have had below average results, mostly due to the extreme heat experienced earlier in the year during the growing period."

Property Observer found a property at 540 Gradys Creek Road, Kyogle on the market for $475,000.

The 7.5 acre property (above) with a 3 bedroom country cottage has 400 metres of Gradys Creek frontage and riverbank soil.

The property on 365 Killaloe Road in Green Pigeon, Kyogle (below), is on the market for $419,000. It is 25 acres and comes with a 4 bedroom home.