Temporary Sellers @ $20/ML Temporary Buyers @ $15/ML
WANTED: Temporary Lachlan Surface Water 500ML @ $50/ML WANTED: Permanent Lachlan Surface Water 2000ML @ $540/ML
A capacity crowd, estimated to be in excess of 300 people, attended the third annual water auction at the Riverina Field Days, hosted by leading Riverina based Water Broker and Australian Water Brokers Association President, Tom Wilks.
The introduction of online bidding, using the Auctions Plus platform, proved surprisingly popular, as this platform is commonly associated with online livestock sales. Over 6,000 megalitres of water was sold to local and interstate buyers, sourced from the Murrumbidgee, Murray and Lachlan Valleys.
“We had a great turn out on the day. With online and phone bidding, bidder registrations exceeded last year’s event and the pavilion was overflowing with people” Mr Wilks says.
“The very strong demand for permanent general security, high security and supplementary water entitlements resulted in prices exceeding vendors’ expectations. However, recent widespread soaking rains dampened the prices for temporary water. But with little runoff, it may be wise for irrigators to top up their carryover.” he says.
With water growing in popularity in recent years as an investment option and with phone and online bidding proving extremely popular, interest came from a range of interstate commercial investors. In addition to irrigators, the auction was well attended by local agents, valuers and the wider community who were eager to find out what water is worth, and just how water is traded.
Following the trend from previous years, water parcels that were passed in at auction are now receiving a lot of enquiry.
“The water auction has generated a lot of interest, both during the Riverina Field Days and after, and we expect to have the majority of the passed in water parcels sold by the end of the week” Mr Wilks said.
With the 2015/16 season coming to a close, Mr Wilks encourages anyone interested in purchasing water before the close of season to contact the Wilks Water team.
“We currently have very strong demand for permanent water, with limited supply. So those that are selling, are achieving excellent prices.” Mr Wilks says.
All lots of water sold are in the Murrumbidgee Valley and sold without 2016/17 allocation unless stated otherwise