Some stellar prices are still being paid for isolated farm blocks being marketed as potential hobby farms.
A buyer has paid $17,624/acre or $365,000 for a small farm at Newry, near Maffra in Gippsland.
The paddock is bare other than some sheds and cattle yards across eight hectares (21 acres).
It does have the added bonus of nine megalitres of high reliability irrigation rights and the same of low reliability water rights.
Agents from Gippsland Real Estate Maffra said the block was a "fantastic irrigation rural farmlet" and "an ideal hobby farm".
Newry is located in a rich dairying district, about 220km east of Melbourne.
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Chris McLennan
ACM national rural property writer based in Bacchus Marsh, Victoria. Career journalist. Multi award winner.
ACM national rural property writer based in Bacchus Marsh, Victoria. Career journalist. Multi award winner.
