In the past 12 months land values in the Riverina have increased by 8.3 per cent.

The new figures released from the NSW Valuer General offer a comparison between rural and residential property.

Residential property in this region has increased by two per cent.

But the record cattle prices and overall confidence in agriculture has provided the impetus for people to spend more on land.

Bassingthwaighte Livestock and Property Marketing livestock agent Adam Randall of Cootamundra said the confidence in agricultural could be seen from clearing sales right through the chain to sheep, cattle and land values.

He said interest in all things agriculture was strong. And new and second hand machinery was in demand too.

"Many farmers are very optimistic ... and we have just had 150mm of rain in this area," he said.

NSW Valuer General Dr David Parker said across the Riverina region have generally increased since July, 1, 2019.

He said 2020 was a difficult year for determining land values in the aftermath of last summer's horrific bushfires, followed by the impacts of the COVID-19 pandemic.

"My office has undertaken separate studies of the impact of both bushfires and COVID-19 on the property market," he said.

"Our valuers have applied the findings of these studies to affected areas and property types where there are insufficient sales available to determine the land values," Mr Parker said.

Meanwhile, Webster Nolan Real Estate director David Nolan reported the phenomenal sale of a Tumut property late last year.

Mr Nolan confirmed the "Avenix River" property located at Brungle sold for $14,000 an acre on behalf of the Piper family.