Rural agent Bruce Gunning has sold $135 million worth of property in northern NSW in the past three weeks - more than he has sold in the past three years.
The deals indicate the renewed interest in farmland after solid rain in the past month across the cotton and grain growing regions and near record prices for grain.
"The price at which wheat can now be sold and forward sold is really stimulating the market," said Mr Gunning, of Ray White Rural.
The re-entry of funds and corporate buyers into the rural sector is a significant factor in the upswing in buyer interest and sales activity.
Mr Gunning's $135 million in deals covered just five parcels of property and involved a range of buyers and vendors, including the newly listed PrimeAg as well as private local and international buyers.
With the current worldwide boom in prices for "soft commodities" - covering sectors such as wheat, barley and cotton - farming regions are enjoying an air of optimism that has not been seen for some time.
Cattle prices have kicked along strongly for most of this decade, flowing through to grazing land values. But with a long, difficult drought in many farming areas, land values there have not kept pace.
Rural property valuer Shaun Hendy said the worldwide biofuels industry had added a new dimension to agribusiness markets. "It used to be about food and fibre," he said. "Now it's about food, fibre and energy."
With government-mandated biofuel usage in Europe, the US and South America, some of the world's biggest economies are now consuming significant amounts of grain for non-food purposes.
"We don't need a biofuels industry in Australia to benefit from this. These prices are dictated on the world stage," said Mr Hendy, who heads the Goondiwindi office of Herron Todd White Valuers.
Mr Gunning said many Australian farmers had reached retirement age and had wanted to sell their properties for some time.
"Because of the prolonged drought, they have soaked up a lot of their savings," he said.
"But now, after we got a bit of a crop last year at record prices, a lot of those people are saying they can hang on for another 12 months or two years to recoup some of their past losses and then they will sell out."
Valuer Kerry Herron, chairman of HTW Valuers, said there was a danger of too many properties coming on the market this year, dampening value growth.
"Over the last eight months or so, property sales by number have diminished quite significantly, but the prices paid are fully firm on all of last year's high prices," Mr Herron said.
The property market could not "skyrocket forever".
"Like the share market, there has to be a day of reckoning or at least a plateauing, so I'm expecting that sales by number will still be a little slow," he said.
Off-prime properties might struggle to draw buyers, especially if vendors were not prepared to meet the market.
But Mr Gunning said he did not see an oversupply looming.
