Australia's richest farming postcode just cemented its remarkable reputation with a $31,818 per acre sale this week.
We revealed this week postcode 3995 was the most expensive postcode for farm land in Australia.
It is a lightly populated region in Victoria's South Gippsland, just over 100km from Melbourne, where land prices commonly reach $20,000 per acre and higher.
This week another sale was clinched at Kilcunda, in the Wonthaggi district, although the local farmers were outbid by a hobby farmer this time.
Mostly it is hilly country with high annual rainfall of around 900mm producing lush pasture for grazing beef cattle.
Existing farmers have been forced to pay big to expand their holdings.
Dairying was once strong in this rich farming pocket of the Wonthaggi region but today the focus is mostly on beef.
The strong floor in the market has come from city folk will to spend massive sums to secure their rural escape and stellar views of the Bass Coast.
And this is what has happened in the latest hot sale.
The Ridge in Kilcunda takes in just 27 hectares (66 acres) and sold for $2.1 million.
This block offered views of Westernport Bay, Bass Strait and Wilsons Promontory.
The farm has steel stock yards with a cattle crush with five dams for stock water.
It has a four-bedroom, two-bathroom existing home with an expansive deck to take in those views.
Scott Andersen from Andersen Property Specialists said three buyers were "keen all at once" for the farm block with the Melbourne buyer winning out.
Surprisingly it hasn't been lifestylers fleeing the city who have helped double Woolamai district farm land prices in the past six years but neighbouring farmers looking to expand, Mr Andersen said.
Postcode 3995 provides the highest median price of anywhere with $25,265 per hectare, or more than $10,000 per acre.
The tightened supply of land available for sale has pushed prices ever higher.
In May, a former dairy farm changed hands for almost $22,000 per acre at Bass Hills - a sale price of $4,681,600.
It was a spectacular pay day for the farm family which had owned the 86ha (231 acre) property for more than 50 years.
Last month The Airstrip farm in Woolamai, just a short distance away, sold for $2,275,000 for its 51ha (126 acres) of fertile grazing land for $18,056 per acre.
This month a small grazing block sold for a stunning $18,330 per acre.
Owners won $2.2 million for their 49ha (120 acre) block.
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.
