IN this week’s property review, improved seasonal conditions, recovering cattle prices and strong inquiry for quality breeder country are helping underpin North Queensland’s grazing property market.

According to valuer Roger Hill, Preston Rowe Paterson director for regional North Queensland, the region’s grazing property market is showing resilience in 2026.

Speaking after the valuer’s recent agribusiness network event in Brisbane, Mr Hill said values for improved coastal country were holding firm and buyer confidence was still evident across well-presented breeder and backgrounding assets.

However, he noted this year’s marketing season started later than usual after the big wet delayed campaign activity across much of the region.

“Cattle prices are rising again, which will help property sale volumes. However, it is questionable if the stronger cattle prices will lift land values because producers are still dealing with higher operating costs, increased leasehold rents and rising interest rates.”

Apart from a few outliers, Mr Hill said value rates across north and western Queensland have remained within a relatively consistent band since the cattle market peaked in late 2022.

“Even after cattle values eased in 2023, a number of stations failed to transact as vendors held to ambitious price expectations, often reinforced by overly optimistic outside advice.”

Hel said some of those properties are beginning to move, as vendors adjust to current market conditions.

“The market has been in an overshot phase since 2023, where some vendors were continuing to increase their value assumptions despite slower cattle prices in 2023/24 and into 2025.”

“Assets that eventually transact are often doing so at substantial discounts to their original asking prices, in some cases by 20 to 30 percent and occasionally more,” he said.

Mitchell grass country

In the Mitchell grass country, Mr Hill said pricing remains more disciplined, with fewer inflated expectations and less ‘rubbery’ market advice influencing campaigns.

“There are few Mitchell grass downs properties coming forward, but one block currently under contract is understood to be trading in line with recent value benchmarks,” he said.

“Demand appears sufficient to absorb current listings, but successful deals are increasingly hinging on whether vendors and buyers can agree on realistic pricing.”

Mr Hill reports solid inquiry for well-developed assets, especially from northern and southern producers looking for reliable breeder country.

“Mid-priced assets, now around the $25 million mark, still represent attainable expansion opportunities for established family operators.”

“Seasonal conditions are adding further support to sentiment across the north. We are seeing some of the best grass we have ever seen on the Mitchell and Flinders grass downs, with a salad bowl of vines and herbages,” he said.

Delayed muster sees sales lag

Mr Hill said the delayed northern muster this year had affected cattle flows, with some traders struggling to secure weaners early in the season.

“Weaners from down in the dry areas of New South Wales have been absorbed, particularly flatbacks. But with first-round northern mustering almost complete, northern weaners are now hitting the market.”

He said the typical seasonal weaner price dip was not present this year, with strong demand from traders, backgrounders and restockers.

“Northern cattle coming to market are achieving solid cents/kilo returns, helping support confidence across northern, central and central western Queensland and offset some of the pressure from rising operating costs.”

Despite global uncertainty, Mr Hill is not seeing uncertainty among potential property buyers.

He said purchasers were making calculated decisions in the face of the Middle East crisis, interest rate pressure and rising operating costs.

“Gross income is now being judged against 2026 cattle pricing, not the extraordinary highs of 2022, while fuel levies, lick costs, labour shortages and wage rates all continue to weigh on budgets.”

The contrast with 2022 remains stark. That market was defined by record cattle prices driven by restocking, herd rebuilding, tight supply and strong pasture recovery after drought.

By comparison, 2026 is shaping as a year of historically high throughput. Meat & Livestock Australia is forecasting national cattle slaughter at 9.45 million head, the highest since 1978, with beef production also expected to reach a record as strong seasonal conditions in the north help maintain supply.

Mr Hill said those broader market settings are only part of the equation, with a range of ‘hidden’ costs also influencing what buyers can afford to pay.

“Increased rents and rates for both freehold and leasehold land are a substantial contributor to the cost base of operating a property.”

Looking ahead, he expects grazing property prices across Queensland’s central west, north and north-west to remain broadly firm and possibly rise slightly through the rest of the year.

“There will always be a few outliers, but overall the market should remain solid and is poised for some positive value growth.”

NQ properties currently for sale

Set out below is a summary of current listings across the North Queensland region:

• 16,622ha Inkerman Station, 15km south of Home Hill, is a coastal freehold property suited to farming, breeding, backgrounding & finishing. Carrying capacity 3500AE. Development potential. WIWO.
• 18,970ha Tabletop Station, 23km north of Collinsville, is a breeding operation running 4600AE. 3100hd included in WIWO sale. Abundant water.
• 32,916ha Strathalbyn, 68km north-west of Collinsville, Carrying capacity 9500AE. 6300hd included in WIWO sale. 15km Burdekin River frontage. Institutional-grade infrastructure.
• 48,205ha Mudgeacca, 23km from Boulia, is a blue-ribbon breeding, backgrounding & finishing enterprise. Additional 5450ha grazing lease reserve. WIWO sale includes 2500 mixed cattle.
• 7513ha Blunder Park Station, Innot Hot Springs, is a high rainfall grazing property. 700ML licence. Sale includes 800hd cattle.
• 31,800ha Panhandle, 43km W Collinsville, is a turnkey breeding opportunity. WIWO inc 2850 breeders & 2000 followers.
• 8310ha Lorne Station, 40km south of Aramac, is fully exclusion fenced with exceptionally well grassed grazing country for breeding & backgrounding cattle, sheep & goats.
• 41,082ha Baratria Station, 65km east of Winton, is a finishing operation or cattle depot with abundant quality feed. Running 5000AE – 6000AE. Cropping (sorghum) potential.
• Adjoining 11,753ha Kellys Creek & 10,265ha Pauralos Park, 80km & 75km south-east of Winton, offer breeding, backgrounding & finishing country for cattle & sheep.
• 3123ha Belyando Junction Station, 180km north of Clermont, is a versatile backgrounding & finishing block running 800AE. 7000ML water. Intensive irrigation & natural capital opportunities.
• 28,836ha Bellevue, Yaraka & 97km from Isisford, is a breeding & backgrounding property suited to cattle, sheep or goats. The sweet pebbly country & chocolate soils run 1200 cows & calves or 1500 backgrounders.
• 17,091ha Isla Downs,157km south-east of Longreach, is a well grassed exclusion fenced property suited to cattle, sheep & goats. Can run 1200 dry cattle or 5000 sheep.
• 4662ha Dumbarton, Mackenzie/Duaringa district, is a drought proofed cattle enterprise running 1000 breeders & 400-600 backgrounders. 1000 SCU feedlot. Mackenzie River frontage. Two irrigation pivots.

Properties recently under offer, contract & sold

• 39,229ha Valley of Lagoons, north of Greenvale, sold under the hammer for $30m including more than 4000 breeders. It runs a Brahman breeding, backgrounding & finishing operation.
• 10,084ha Mugwee, 97km from Hughenden, is tick free Mitchell and Flinders grass downs country used for breeding, backgrounding or finishing. It is under contract with settlement in mid-June.
• 37,543ha Cherwell Station, 40km south of Moranbah, is a breeding, backgrounding & finishing property capable of running 3000AE. It is under offer.
• 25,700ha Durrandella, 51km south of Alpha, is a beef breeding & finishing enterprise running 2355AE. Destocked & carrying abundant feed. It sold for $22.5m.
• 4915ha Flinders,12km south-east of Richmond, is a low-cost breeding & finishing block running 700AE on abundant Mitchell & Flinders grass. It sold for $5.5m.
• 6124ha Spellary Creek, 25km east of Julia Creek, is a breeding, backgrounding & finishing block with farming potential. It sold for $7m.
• 8282ha Saltern Creek, 22km north-west of Barcaldine, is a fully exclusion fenced, beef, sheep & goat property. Carrying capacity 1000hd. It sold for a district record of $12.3m.
• 2875ha Gemini Downs, 57km north of Clermont, is a picturesque highly developed grazing & farming opportunity. It was purchased for $18.15m.