The new record surpasses the previous high of $1200 a megalitre. The high was reached during the Wilks Water auction which was run in conjunction with the Murrumbidgee Field Days in Griffith.

Wilks Water principal, Tom Wilks said the top price was $7000 a megalitre for permanent Murrumbidgee high security water. He said it was the sixth year the water auction had run at the field days.

In terms of the outlook we have received from water NSW it is all horrible. "It's a physical auction and is open and transparent ... it is a healthy process and buyers and sellers can see where the market is at," he said.

Mr Wilks said water was as dear as it had ever been and the question now was whether prices had peaked or if the market would keep getting dearer.

The auction attracted 50 registered buyers from Griffith the Lachlan, and into South Australia and Victoria. Mr Wilks said about 400 people attended the event and there was interest from a television film crew too.

A Murrumbidgee Irrigation category six stock and Domestic parcel made $5900/ a megalitre.

A 48ML Murrumbidgee general security permanent entitlement achieved $2000/ML. Temporary lower Lachlan groundwater made $200/ML. Lower Murrumbidgee groundwater zone two sold at $280/ML and forward Lower Murrumbidgee groundwater zone three was sold at $250/ML.