Temporary water prices in Victoria
Current temporary water prices — also called water allocation prices — across Victoria’s Zone 1A (Goulburn), Zone 6 (Vic Murray Above Choke) and Zone 7 (Vic Murray Below Choke). Prices move daily based on supply, demand, and seasonal conditions. For a live quote benchmarked against today’s market, call (03) 5824 3833(03) 5824 3833.
Victorian Water Register trade data last updated 23 July 2026.
Market data
Recent allocation trades across Victoria.
Recorded transactions from the Victorian Water Register, not indicative quotes. For today's market, call the desk.
Data sourced from the VWR public allocation-market dashboard. Figures are indicative only and may not reflect the price you receive.
Selling permanent water? The figures above are seasonal allocation prices. We publish water share values — allocation-adjusted HRWS and LRWS — separately.
Permanent water prices →What is temporary water?
Temporary water is water allocation traded for use within a single water year — it is the same thing the industry calls a water allocation or temporary trade. When you buy temporary water you are buying the actual water credited to an entitlement this season, priced per megalitre (ML). It does not transfer ownership of the underlying entitlement.
Permanent water, by contrast, is the water entitlement itself — the ongoing right that receives an allocation every year. So a temporary water price is the cost of one season’s water; a permanent water price is the cost of the asset that produces it. See the full breakdown in entitlements vs allocations.
In short: “temporary water price”, “allocation price” and “water price per ML” all refer to the same Victorian market price shown above — quoted in AUD per megalitre and updated from the Victorian Water Register.
What drives water allocation prices?
Water allocation prices in the Murray-Darling Basin respond to five core forces. Understanding each helps buyers and sellers time their trades.
Seasonal allocation announcements
Seasonal determinations set how much water each entitlement receives. In northern Victoria they are announced by the Northern Victoria Resource Manager and published on the Victorian Water Register; NSW and SA authorities publish their own determinations. Higher announced percentages typically soften prices; below-average announcements drive prices up.
Supply — storage levels and inflows
Carryover storage in major reservoirs (Hume, Dartmouth, Lake Victoria) sets the physical ceiling for available water. Low storage entering spring compresses supply and pushes allocation prices higher.
Demand — irrigation and horticulture
Demand peaks from October through February when irrigators are actively applying water. Permanent plantings — particularly almonds, wine grapes and dairy pasture — create a price floor because demand cannot easily be deferred.
Carryover
Entitlement holders who carry allocation water from one season to the next reduce the urgency to buy early. Heavy carryover positions into a new year tend to dampen early-season prices.
Trade limits — the Barmah Choke and IVT
Allocation moves between zones — including interstate — subject to trade limits. The Barmah Choke restriction blocks net trade from above the Choke to below it, and inter-valley trade (IVT) limits cap exports from valleys such as the Goulburn and Murrumbidgee. When limits have capacity, price differences between zones narrow; when they bind, zones can decouple.
Trading zones
Zone 1A — Greater Goulburn
Victorian allocation zone covering the Goulburn and Broken systems. Dominated by dairy and horticulture demand.
Zone 6 — Vic Murray (Above Choke)
Victorian Murray system upstream of the Barmah Choke. Prices influenced by Victorian allocation announcements and inter-zone trade demand.
Zone 7 — Vic Murray (Below Choke)
Victorian Murray below the Barmah Choke. Almonds, wine grapes, citrus and dairy drive seasonal demand.
Zone 10 — NSW Murray (Above Choke)
NSW Murray from Lake Hume to the Barmah Choke. Rice, winter cropping and dairy across the Murray Irrigation area.
Zone 11 — NSW Murray (Below Choke)
NSW Murray from the Choke to the SA border, including the Edward-Wakool system. Permanent horticulture drives demand.
Zone 12 — SA River Murray
South Australia’s single Murray trading zone. Riverland citrus, almonds and wine grapes on Class 3 (High Security) entitlement.
Zone 13 — Murrumbidgee
The Murrumbidgee below Burrinjuck and Blowering. Australia’s rice bowl, with exports to the Murray capped by the 100 GL limit.
Where to find water price data
Published water prices reflect recent trade data and may lag actual market conditions by days. For any material purchase or sale, speak with a broker who can provide a live quote based on current market depth.
Price data published by the Murray-Darling Basin Authority (MDBA), the Victorian Water Register and WaterNSW provides the most authoritative public record of completed trades.
For context on where today’s prices sit in the cycle, see our 10-year water price history — year-by-year allocation prices for the southern Murray-Darling Basin and the drivers behind every move — or our WY2026-27 water price outlook for the season ahead.
Permanent water
Thinking of selling permanent water?
Watching allocation prices is often the first step in a bigger decision. Integra also brokers permanent water entitlement sales — high- and low-reliability water shares across the southern Murray-Darling Basin — appraised against recorded register transfers, not list prices.
An appraisal is confidential, obligation-free, and tells you what your entitlement would realise in today’s market — so the decision to sell (or hold) is made on numbers, not guesswork. Start with our current permanent water prices — allocation-adjusted HRWS and LRWS values by system — then see how a permanent entitlement sale works, or the difference between entitlements and allocations.
Temporary water prices — FAQs
What is the price of temporary water in Victoria today?
Temporary water (allocation) prices in Victoria change daily. The Recent allocation trades section above shows the latest median price per megalitre recorded by the Victorian Water Register for Zone 1A (Greater Goulburn), Zone 6 (Murray Above the Choke) and Zone 7 (Murray Below the Choke) — the zones covering the Goulburn-Murray Water (GMW) irrigation districts. Published figures lag the live market by a few days, so for an exact price before you trade, call the Integra desk on (03) 5824 3833 for a quote benchmarked against current market depth.
Is temporary water the same as a water allocation?
Yes. "Temporary water" is the everyday term for a water allocation traded for use within a single water year — also called a temporary trade. It is the water itself, priced per megalitre, rather than the permanent entitlement that produces it. So a temporary water price and a water allocation price are the same number.
How much does temporary water cost per megalitre?
Temporary water is quoted in Australian dollars per megalitre (AUD/ML) and varies by trading zone and season. In a typical Victorian season it can range from under $100/ML in wet, high-allocation years to several hundred dollars per ML when storages are low and demand peaks over summer. Check the live figures above for current Zone 1A, 6 and 7 medians, or call (03) 5824 3833 for today’s price.
What drives temporary water prices in Victoria?
Five forces move temporary water prices: seasonal determinations published on the Victorian Water Register, storage levels and inflows in reservoirs like Hume and Dartmouth, irrigation and horticulture demand (almonds, dairy and wine grapes set a price floor), how much allocation irrigators carry over between seasons, and trade limits such as the Barmah Choke restriction and inter-valley trade (IVT) caps. Low storages and strong summer demand push prices up; high announcements and heavy carryover soften them.
Where can I see temporary water prices for Victoria?
The most authoritative public record of completed temporary water trades is the Victorian Water Register, which publishes recorded allocation-trade prices by zone. Integra summarises the latest Zone 1A, 6 and 7 medians on this page. Because published prices reflect settled trades and can lag the live market, speak to a broker for a current quote before any material purchase or sale.
What is the difference between temporary and permanent water prices?
A temporary water price is the cost of one season’s allocation — the water you use this year, priced per megalitre. A permanent water price is the cost of a water entitlement, the ongoing asset that receives an allocation every year and is priced far higher because you own it indefinitely. Irrigators managing a short-term shortfall buy temporary water; investors and growers securing long-term supply buy permanent entitlements. Integra publishes current permanent water prices — allocation-adjusted HRWS and LRWS values by system — on its permanent water prices page.
Does Integra sell permanent water as well as temporary?
Yes. Alongside temporary allocation trades, Integra brokers permanent water entitlement sales and purchases — high-reliability and low-reliability water shares across Zone 1A, 6 and 7 — and publishes current allocation-adjusted water share values on its permanent water prices page. Permanent water is priced per megalitre of entitlement volume and moves with the seasonal cycle, so a confidential appraisal against recent recorded Victorian Water Register transfers matters more than any list price. Call (03) 5824 3833 to have your entitlement appraised before you decide to sell or hold.
Liz Johnston
Senior Water Broker