A RECORD auction price for Robe grazing land was achieved last Friday when the Bullock family sold their two farms for almost $7m.
In Imperial terms, their land achieved over $3300 per acre and the properties have been purchased by two local families.
The auctions were conducted before a gallery of 100 people at the Robe Football Club.
Akeringa was the first to be offered and it measures 1339 acres (542 hectares).
It was knocked down to the Ogilvie family for $3.8m which is the equivalent of $2837 per acre and $7011 per hectare.
Bulgana was subsequently sold at auction to the Hann family for $3.85m.
As this farm measures 1157 acres(468 hectares), it represents $3328 per acre (8226 per hectare).
Akeringa and Bulgana have been used by the Bullocks to graze sheep and cattle since the 1960s and have significant improvements including a house and significant shedding and stock yards.
Robe District Council chief executive Roger Sweetman said it was pleasing there was growing confidence in the rural sector as people could see that an income could be made from primary production.
“There will be an impact on neighbouring properties as the Valuer-General takes sales into consideration when determining property values,” Mr Sweetman said.
“We use his valuations as part of our rate setting process.”
In other real estate news, farming land at Glencoe West was recently passed in at auction.
The auction was conducted at the Glencoe Football Club and attended by 50 people.
The three parcels of land were passed in on vendor bids.
The total area of the land on offer was 144 hectares (355 acres).
After the sale, Mr Dycer told The South Eastern Times the land was still on the market.