DESPITE drier conditions, the rural property markets across southern and south-western Queensland continue to throw up market leading sales, valuers Herron Todd White says in its latest monthly rural property report.
There is an increase in property listings, with the pent-up demand for both farming and grazing holdings still driving value growth, HTW says.
It is expected that as the pool of active buyers reduces with increasing supply, values may begin to stabilise.
The buyer profiles range from adjoining and nearby owners and private farming companies to interstate sheep and cattle graziers seeking to diversify their exposure to weather patterns.
Properties that provide good fencing and water improvements are keenly sought-after, as are farming holdings with soft brigalow/belah soils.
Recently completed sales include:
- Wallanba near Westmar, a 2800ha grazing holding which is reported as under contract for $9.5 million. The property includes 39ha under pivot irrigation, 156ha planted to leucaena, flood irrigation and 1199Ml of water allocations.
- Mt Lonsdale at Mungallala sold for $8.5 million and comprises an 8146ha grazing holding.
- Welltown via Goondiwindi recently sold for $31.5 million to a private farming company from a nearby district.
Each of these sales reflected strong land values and reinforced the strength of the market despite broader economic uncertainty, HTW said.