Rural properties in western New South Wales continue to improve in value with ‘Multagoona’ selling for $5.3million.
Nestled 100 kiliometres south of Cobar and 145 kilometres north of Hillston is ‘Multagoona’.
Selling agent David Russell from Landmark Cobar said it was a “tremendous sale” and that they are finding it hard to keep up with demand in the area.
“We’re putting more properties on the market each week, there’s definitely more interest than supply at the moment,” he said.
“We had 13 inspections and it went close to over a million dollars over reserve. Southern buyers new to the area purchased it,” David said.
The previous owners had held ‘Multagoona’ for 6 years and had improved the property a lot in their time.
“They spent around $600,000 in improvements, mainly fencing.”
The almost 40,000 acre farm is split into 10 grazing paddocks with well maintained high quality fencing. It is currently running 2,000 Dorper breeding ewes and followers and 500 Rangeland nannies. Past history indicates around 1,500 Rangeland goats have been trapped and sold each year.
The property was sold via AuctionsPlus.