Multi-million dollar rewards for farm owners - some of South Australia's biggest sales of 2022

Given the extraordinary farm sales in that region at the end of this year, the rural tide has definitely turned since those tough pioneering days of the 1860s.

Some stellar farm sales to close off this year's spring offering around Penola is evidence of that.

Here we take a deep dive into some of the landmark farm sales across South Australia during another boom year.

Penola district bidders paid $8219 per acre for Hodges and $7162 per acre for Agnew as neighbours bet big on the future of agriculture during a run of good seasons.

The number of farm properties offered for sale across the state fell slightly this year but the double digit growth in prices continued.

Property analysts expect the boom to continue next year as well.

The farm price spurt has lifted the confidence of rural communities like Penola with strong commodity prices and good rains.

"We expect a large spend on capital improvements post-harvest as confidence in the industry remains high," says Phil Keen, state real estate manager from Elders.

Consider just one number from the latest Elders property report - comparing three months of sales against the same period the year before - median prices were up 73.1 per cent.

This year's sale were really set alight by a record farm sale just across the border near Kaniva when $11,000 per acre was paid for cropping country at Lillimur.

Almost $8 million was paid for 318 hectares to prove 2021 was no fluke, and the record run continued.

The autumn break held off in many areas to subdue early sales until the season was assured and spring sales began again.

The Mid North sale of versatile Allanbie at Balaklava for $3.2 million or $3033 per acre at auction steadied the ship.

Who can forget the $8303 per acre paid for the Treloar's Chessingham near Naracoorte in October where $13.7 million changed hands.

Earlier estimates had the premium grazing farm priced at around $11.5 million.

In the far west , a big cropping and grazing property near Ceduna (5809ha, 14,354 acres) is currently under offer with no price yet available after being listed.

There were fewer sales in the west and the EP, as much of the attention shifted to the Mid North and the east of the state.

Almost $10 million was paid for a big mixed farm near Millicent on the Limestone Coast. The Clay Wells farm included 1075 hectares (2656 acres).

For the $9.62m paid, it was valued at $3622 an acre.

The Rowe family's Princess Royal Station bought Gina Rinehart's Tungali feedlot at Sedan.

No price was disclosed but it had earlier been tipped the feedlot and farm would make around $5 million.

A farm which incorporates almost five kilometres of the rugged Great Australian Bight went on the market.

Tyringa Beach (1117ha, 2760 acres), between Venus Bay and Streaky Bay, had been owned by the Cash family since the 1980s. It was listed for sale between $4m-$5m.

The failed SP Hay business across several sites including Paskeville was sold to Brisbane-based company AgTrade after it went into receivership last year owing creditors about $14 million. No price was provided.

Another big public auction in October, this time at the Yacka Bowling Club in the Mid North, saw bidders slugging it out for two large cropping paddocks across 197ha.

Broughts sold for $2.8 million, or $5750 per acre.

Again in October, Kevhill at Naracoorte (410ha) saw three bidders competing at the Tatiara Civic Centre for the hammer to fall at a stunning price of $9.1 million, or $8950 per acre.

But who was ready for the public auction at Lucindale to close the month's sales?

A district record price of $22 million was paid for Tom and Kerry McWaters' Binbrook (631ha) valuing the farm at $14,112 per acre.

Binbrook, with two irrigation pivots, was located in a tightly held stretch of country where few farms ever come up for sale.

It was not only this top grazing country buyers were chasing, the chance to convert a burned blue gum plantation on Kangaroo Island back to grazing attracted attention.

Bonneydoon (547ha) went to auction at the Ozone Hotel to sell for $2.5 million, or $1849 an acre.

To close out another breath-taking year were the twin auctions at Penola.

First, Hodges (266ha) sold for $5.4 million, or $8219 per acre at the Penola RSL Hall.

A week later, Agnew (455ha) realised $8.05 million for owners Jock and Sue Agnew, at $7162 per acre.

Their neighbours, the Tranter family said they made a "generational decision" to make the massive investment in local farming looking ahead to the future.

The current farm land price spike has been driven by neighbours looking to increase their farm sizes to take advantage of good seasons, good prices and what are still relatively cheap bank interest rates.

In recent days, the Casella family announced it had sold many SA vineyards as part of partnership deal with Canadian pension fund PSP Investments.

SPV's arrangement with Casella covers vineyards totalling 7215 hectares across 35 properties. The price of this private sale was not disclosed.

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