2016-06-07 - P&E Agenda - Item 5, Attachment 1 - Agriculture and Agricultural Land Study

Appendix C - Property Sales Review
In the period between 1 January 2014 and 31 December 2015, there were 133 transfers of ‘Rural’
zoned properties greater than 5.0 hectares. Analysis of this data showed:

LARGE PROPERTIES
•    20 properties were over 40 hectares in area, ranging from 41.60 hectares to 240.60
     hectares.
•    Median size was around 65 hectares and average size 82.58 hectares
•    3 were vacant and the level of improvements varied significantly.
•    Average sale price of $753,610 and average price per hectare of $9,018.
•    The least expensive at $252,590 was a 44 hectare property at Kin Kin with a shed and
     dams
•    The most expensive at $1,850,000 was a 240 hectare property at Cootharaba with a small
     house, outbuildings, stockyards and dams.

MEDIUM SIZED PROPERTIES
•    61 properties were between 10 hectares and 40 hectares in area.
•    Median size was 16.17 hectares and average size was 18.76 hectares.
•    The average sale price was $694.957 with an average price per hectare of $42,137.
•    7 were vacant and the average sale price of the vacant blocks was $447,685.
•    The least expensive at $203,000 was a 33.3 hectare steeply sloping vacant property close
     to the highway at Federal with approximately two thirds under protected bushland.
•    The most expensive at $3,100,000 was a 15.05 hectare property near Lake Macdonald with
     impressive views, a luxury home and substantial equestrian infrastructure.
•    The level of improvements can have a considerable impact on the price of the property.

SMALL PROPERTIES
•    52 properties were between 5 hectares and 10 hectares in area.
•    Median size was around 6.7 hectares and the average size 6.95 hectares.
•    The average sale price was $603,731 with an average price per hectare of $88,034.
•    The least expensive at $110,000 was a 5.8 hectare property adjoining the Bruce Highway
     at Federal.
•    The most expensive at $3,085,000 was a luxury house with 7.4 hectares ha on the shores
     of Lake Macdonald with a private airstrip.
•    The style of the house and the extent of infrastructure and improvements (such as pools,
     tennis courts, stables and equestrian yards) have more impact on the price variation than
     the area of land for smaller properties.




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