Echuca market exceeding vendor expectations: HTW

Buoyed by the rising value of water, irrigated cropping and grazing holdings continue to be strong performers with agents reporting good demand and prices regularly exceeding vendor expectations, according to the latest Herron Todd White rural report.

This has been a continuing trend for nearly 12 months, the valuation firm advised.

:As one vendor recently noted, they anticipated to realize in excess of $1.1 million when the property was offered to market.

"After 24 hours, the property sold to several neighbours for an amount in excess of $2 million."

Discussions with an agent indicated a selling price 10% to 15% in excess of the initial list price (three months ago) albeit with a significant water component.

Recent sales include a Lockington mixed farming enterprise situated between Echuca and Lockington in Northern Victoria.

It was sold for $1 million in May.

Located at 2361 Whinfield Rd (pictured above), the property comprises 144 hectares on three separate titles. 

The home block on 32 hectares has three bedrooms, and Lot 2 has a brick home on 64 hectares.

The third Lot is 47 acres of lasered cropping and grazing country.