SA farmland fails to find buyers as prices fall sharply
South Australian farmland valued at $1.35 million failed to meet the reserve, showing softening agricultural property prices.
An online auction for 188 hectares of South Australian farmland near Port Broughton ended at $1.351 million. But it failed to meet the reserve.
The unsuccessful bid valued the land at $2,905 per acre. This was down sharply from sales in the region.
Those sales fetched well over $5,000 per acre only a year earlier. The Keith auction on Wednesday attracted no bids at all.
The farmland is productive arable country within 25 kilometres of the Wallaroo grain terminals. The result reflects broader weakness in the South Australian agricultural property market.
A further 693 hectares at the same site remain available for a three-year lease. Buyers have also had the option to lease individual blocks instead of buying the whole property.
- 188 hectares (465 acres)
- Land size
- $1,351,000
- Final bid
- $2,905 (down from $5,000+)
- Price per acre
- Tickera, near Port Broughton
- Location
Why it mattersAgricultural property values are dropping. This affects farm investment returns and rural business confidence.
AustraliaSouth Australian farming communities face weaker land values, affecting expansion plans and property-based financing.
✓ Claims checked against the source. checked 8 d ago
