THE Riverina irrigation community of Coleambally is not for sale despite media reports this week that it could be bought for $3.5 billion.

The "idea" was raised at a meeting between Federal Water Minister Penny Wong and representatives from the Coleambally community in Wagga Wagga last week.

And while Coleambally Irrigation chairman Robert Black admits he brought up the idea to raise awareness of what was happening to irrigation communities, it has since sparked a controversy in his home town.

"The point I was trying to make is that the Government should come up front and do it (water buy back) properly, not through the back door like they are now," Mr Black said.

"As water goes from districts like ours, we are losing people, infrastructure and it's affecting the viability of the irrigation community. It was a deliberate attempt to show what is happening quietly as people sell their water."

Mr Black said it was important to put a value not only on the water and the land, but also on the whole town which was valued at $1 billion of the total amount.

"There's no economic package for the people connected to the irrigation community," he said.

"The school bus owners who don't have a business any more or the owners of the supermarket who don't sell as much food or the people who are forced to leave town but can't sell their houses are all affected," he said.

"I was just trying to highlight the plight for whole irrigation communities but I've been surprised at the reaction and that people have taken it to heart."

Coleambally farmer Chris Hardy said he believed the mooted "sale" was a stunt, but that if it were serious, some farmers would take up the offer to sell.

"We have high-value assets here with no ability to make a return," he said.

"If this has made the Government wake up and realise what they are doing to irrigation communities, then it's a good thing.

"It's a stunt and not a whole lot more, but it's a stunt with a valuable point behind it."

Fellow Coleambally farmer, Ian Sutherland, was not so sure the right message would get to governments from suggestions such as selling a whole irrigation district.

"It is effective in showing how ridiculous things could be," he said.

"But I was also very nervous at the same time when I heard about it, in case some twit decided it was a good idea."

For the record, Mr Sutherland said his farm was not for sale, nor was Chris Hardy's farm.