A Victorian south-west dairy farm has sold for $7600 an acre at auction.
The Ecklin South property, about 18 kilometres from Terang, went under the hammer on Friday with bidding opening at $5400 per acre.
Charles Stewart Warrnambool director Nick Adamson said the 297-acre farm on the Glenfyne-Brucknell Road attracted strong interest at the Glenfyne Hall.
"Bidding started at $5400 per acre and there were 40 bids between three different parties," he said.
"It sold for $7600 per acre which is reflective of the strong results around the district.
"It was quoted at $6500 and it sold well above."
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Mr Adamson said the property was a former dairy farm with an 18 herringbone dairy and other associated farm shedding. He said it also included an expansive five bedroom home.
Mr Adamson said the three bidders were all local and the purchasers were a local family who intended to use the property as an out paddock.
"The dairy area has been lagging in comparison with cropping country up north and grazing country," he said.
But he said buyers were starting to see the high productivity and high rainfall which reflected the strong interest and sales in the region.
"It's reflective of the cropping and grazing situation," he said. He said sustained commodity prices, good seasonal conditions along with good milk prices would mean dairy farmers could look forward to strong land sales.
In May a paddock near Timboon sold for $8550 per acre. The 124-acre grazing property on Murfitts Road at Scotts Creek sold for $1.06 million and attracted 12 registered bidders at auction.
Ray White Rural Timboon agent Gerard Delaney said bidding opened at $5100 with nine bidders fighting it out.
The sale surpassed predictions for the sale of $6500.