Farmland on New South Wales' southern slopes has beaten the previous record price by almost a third.
The 262-hectare land-only property, known as Dunroven, is located in the middle of what is known as the golden triangle between Cootamundra, Young and Harden.
LJ Hooker Young agent Christian Rowan said the auction attracted nine registered bidders, including lifestyle buyers from Sydney.
It sold for $6.512 million, a remarkable $1.65m above the reserve.
Mr Rowan said the purchaser, who lives on a neighbouring farm, paid around $28,834/ha, the equivalent of $10,050 an acre, beating the previous record of $18,780/ha or $7600/ac, by about 32 percent.
"It is a district record," he said.
"Nothing has even come close to that, but it will probably start a bit of a precedent now.
"To have something come up to market in the area is really rare, it is just such a tightly-held area and that is what attracted a lot of attention."
"It is just 10 minutes south of Young and not far from Wallendbeen which has a reputation as being one of the best wheat growing areas in Australia."
The property had a couple of other attractions for buyers, Mr Rowan said.
There was the potential to add a homestead, subject to council approval, and its easterly aspect in a 625-650 millimetre rainfall district made it less likely to be hit by drought.
Just as in the city, Mr Rowan said rural property prices are increasing as a result of strong demand, lack of stock and low interest rates. In addition, the area has recorded two strong back-to-back seasons.
"Commodity prices have never been better for wheat and canola plus any stock such as cattle and sheep," he said.
"A lot of people have just never seen it like this and that is adding to its appeal."
Dunroven was inspected by 18 groups during its five-week marketing campaign.
Suitable for a range of agricultural pursuits including cereal, legume and oilseed cropping or livestock, its 2021 cropping program consists of 55ha of Kittyhawk wheat as well as canola, silage and hay.
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