UNLIKE Sydney and Melbourne's recent drops in rental property prices, Wallumbilla is a tightly held rural property market for buyers looking to expand.

Just ask Davan Vohland, from Elders Real Estate Roma, whose sales last year exceeded $45 million.

Two properties offered by the Cormack family, Perola Park and Oakwood, were offered at auction this month by Mr Vohland, and agents are now in negotiation with separate buyers to go through to contract.

While both were passed in at the auction, bidding for Perola Park reached $5.35 million.

"That equates to $1179 per acre,” Mr Vohland said.

Oakwood passed in at $2.975 million, with the buyers increasing their offer.

"This equates to about $865 per acre,” he said.

Mr Vohland said both properties, 23km north of Wallumbilla, drew strong bidding and he reported a combined 25 inspections and 59 inquiries before the auctions.

Perola Park was owned by the Cormack family for 84 years.

"Buyer demand currently outstrips listings so, at the moment, it's a seller's market and in the tightly- held country, it doesn't matter whether there's grass or not,” he said.

"People are just looking to expand in the area so we've got quite a database of buyers looking for country.”

"Interest has come from Wandoan and Taroom buyers where property is more expensive, driving demand for sites at Wallumbilla and nearby.”

Mr Vohland said this was a trend he had watched develop in the last seven years.

Roma's Ups and Downs also went to auction on March 15 and was passed in at $800,000.