The bubbles were on ice yesterday as two rural NSW property sales reached a combined $3 million, including one breaking a district record for a sale to a farmer.
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The 172.2-hectare Jugiong property "Riverview" went under the hammer for $1,415,000 after the starting bid was taken by Frank Walmsley, the auctioneer, at $800,000.
The sale price is a district sales record for vacant land according to agent George Southwell, Ray White Rural Canberra/Yass.
This was followed by the sale of "Chains-O-Ponds", a 828.1-hectare property at Bevendale going for $1,650,000 to a Sydney buyer.
"The COVID induced tree-change has attracted significant interest in the regions, with people from Canberra and Sydney realising the benefit of country living so close to the city," Mr Southwell said.
"This combined with the continued windfall of low interest rates means incredible and fast results for vendors, with properties being snapped up.
"However, its fantastic to see local interest is still strong, with the 'Riverview' sale going to a local farming family."
Geoff and Michelle Fountain put "Chains-O-Ponds" on the market to seek retirement, bringing to a close more than half a century of one family's ownership.
"Most of the properties in the region have been carved up and sold to people seeking a tree change," Mr Fountain said of the property, which had more than 200ha arable land.
"This is one of the few large-scale properties left that is a complete unit."
The Fountains were looking forward to celebrating "a very good result" with a bottle of bubbles and were pleased with the sale's quick and smooth process.
Free from any infrastructure, "Riverview" had provided the ultimate in rural living lifestyle for the Bewley family being located 20 minutes from the Hume Highway with many memories made along the Cumbamurra River that wove through the property.
Run as a beef farming enterprise, Trisha Stadtmiller Bewley and Stuart Bewley put the property up for sale so they could "shift down a gear" and pass the property on to a new generation.
Riverview has been in our family for 70 years," vendor Trisha Stadtmiller Bewley said.
"It's part of the fabric of our lives. It is where we worked, grew up and prospered together."
"The property is unique; with the river running through it and its water security, being picturesque and productive were all contributing factors to the sale.
"It is also in a tightly held area, so this was an opportunity in a buoyant market to gain land, however, credit must go to George and the team's exemplary approach, which enabled us to tap into the proven Ray White formula."
Agent George Southwell said the "incredible" results showed a renewed optimism in rural living and confidence in the economy.
"These are significant sales, but while we are riding high on a booming market, these were also two exceptional opportunities.
"It is a testament to the confidence that is out there for rural enterprises and commodities"
He also said "It has been our absolute pleasure to work with the Stadtmiller Bewley and Fountain families, long standing pastoralists in their respective districts."
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