Another day, another auction, and another rural property selling for above its auction reserve price.
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Yengola, an impressive 185 hectare (456 acre) property located 15 minutes drive south of Dubbo, made $2.1 million under the hammer, $150,000 above its reserve reflecting the ongoing bullish tone of the market.
Wednesday's Yengola sale follows on from yesterday's cracking sale of the nearby 202 hectare (499 acre) Benolong property Wollombi for $3.22m by Elders, and the very impressive $9.225m sale by Inglis Rural Property of 9573 hectare (23,655 acre) Woorilla aggregation at Hillston.
Tellingly, four of the seven parties that registered to bid on Yengola were active at the auction, which kicked off at $1.2m.
With 90 per cent arable rich red loam soils, the property provides ample opportunities to run cattle or grow crops.
Water is supplied from three dams, four tanks, and a double frontage to the tranquil Hyandra Creek.
Quality infrastructure includes heavy-duty steel cattle yards equipped with a crush and loading ramp, a large machinery shed/workshop, and a two-car garage.
The charming three bedroom, two bathroom brick veneer home was built in 1989 and is set in expansive lawns and low-maintenance gardens.
The air-conditioned home with a northerly aspect has two living areas, an office space and a separate studio.
There is also a 29 panel solar system, double glazed windows and doors, a wood heater, and a wrap-around paved verandah.
Marketing was handled by Frank Power from Ray White Richardson & Sinclair, Dubbo.
