Dairy farm sales rise In Australia
MORE northern Victorian dairy farms are hitting the property market as farmers opt not to tackle another dry season, particularly with low milk prices.
About 20 per cent more dairy farms than normal for sale and twice as many would-be willing sellers, says by Kevin Hicks from Shepparton. He alleged most farms sold recently had not been sold as milking operations, because they lacked the dairy “component” or had limited water.
Mr. Hicks said low milk prices and poor seasons had prompted his agency to look somewhere else. Since 80 percent of buyers lived within 5km, he sold almost three properties in the Katunga area at the end of last season to Chinese buyers who had wanted an off-farm investment.
Anthony McDonald a rural real estate manager said he had about 25 dairy properties for sale, in the Western District, northern Victoria and southeast South Australia. He said that unlike the agencies in the north, there were only a “couple more” farms on the market than there had been a year ago.
“Dairy farmers are aware there is limited buyer inquiry and they are taking the approach that now is not a good time to sell,” Mr McDonald added.
In South Australia last week, Carilla Dairy, the 1550-cow operation at Tintinara, which went into receivership in July, was advertised for sale. Receivers and manager, Martin Lewis and David Kidman of Ferrier Hodgson appointed Colliers International to sell the large-scale operation.
The property will be sold by public auction on October 16.
