Typical Winton district Mitchell/Flinders grass country

QUEENSLAND’S Central West rural property market has emerged as one of the state’s strongest performers, with values reaching record levels after five to six seasons of improved rainfall and sustained confidence in commodity prices.

In this week’s property review, the once discounted region, previously impacted by drought, is now tightly held and attracting strong inquiry driven by comparatively affordable land values.

According to Herron Todd White valuer Chris Dyer, the central west region of Queensland stretches from Tambo in the south to Winton and Muttaburra in the north and east to Jericho.

While seasonal conditions will inevitably turn, Mr Dyer said producers are realistic and view the region as value for money.

“Longreach looks attractive at $300/ac and has an average rainfall of 406mm to 457mm (16 inches to 18 inches) – similar to areas south of the tick line from Hughenden, Richmond and Julia Creek.”

Mr Dyer said northern parts experience more reliability and bigger rain events and as a result, the price of downs country around Richmond and Hughenden is pushing beyond $400/ac with the carrying capacity rising to between $8000AE to $9000AE.

2025 a standout

He described the 2025 year as a standout for Queensland’s Central West, which experienced a year of record value levels across the property market.

“Property prices have lifted between 10 and 20 percent above previous levels. I believe there is scope for more growth, particularly if summer rain is received and commodity prices hold up.”

Mr Dyer said properties south of Longreach had been sitting at $270/ac to $280/ac, however several recent sales have pushed through the $300/ac barrier, with AE rates ranging from $8000 to $8600.

“South of Hughenden, country is typically making $400/ac, with at least four sales above that level, making around $8500 to $9300AE. Three sales in the desert uplands around Jericho transacted for more than $9000/AE.”

He said Barcaldine country had previously been selling for $350/ac to $380/ac.

“Last year, one property sold for $500/ac and was subsequently superseded by another sale above $500/ac to a neighbour, with AE rates spiking at $10,000.”

He also reported a few sales around Blackall which are broadly sitting at $13,500/AE to $14,500/AE.

“This compares favourably to the Central Highlands where you can buy top quality developed scrub country for $15,000/AE, with most sales in the region achieving $11,500/AE to $13500/AE,” Mr Dyer said.

“Blackall has a good reputation for weight gains and is in a tick free area, however it does have lower rainfall than the Central Highlands.”

Mr Dyer said there has also been good interest around Richmond and Hughenden for suitable downs country that could be converted to farming.

“Traditionally, northern breeders sought grower country in the Central West. However, producers from southern and Central Queensland are seeing the region as value for money on a beast area rate, compared with what they can buy locally.”

Widespread rain in southern Queensland could change the market dynamics, Mr Dyer said.

“Well before this summer rain, southern producers from Roma, St George, Goondiwindi and Mitchell were chasing grass to buy or for agistment. It will be interesting to see if rain has pulled some of those prospective parties out of the buying pool.”

Having said that, he said cattle prices are still strong and it is still dry in New South Wales.

“While NSW producers haven’t been overly active in the market recently, they have previously ventured into Queensland to buy places in times of drought, so that may be repeated.”

Andrew Turner, Ray White Rural Blackall

Seasonally, Andrew Turner from Ray White Rural Blackall reports most of Central Western Queensland is in good shape, despite isolated patches that received limited rainfall or missed out entirely.

He said many producers view the region as offering value compared with areas three to four hours to the east, in particular Central Queensland and the Central Highlands.

“Some grazing properties, for instance in the Wandoan area, are achieving over $4000/ac. The Central West may be further away from feedlots and abattoirs, but Blackall has a very active selling centre.”

While the pipeline is currently empty, Mr Turner said a continuation of strong cattle, sheep meat and wool prices will bring new properties to the market and transactions will follow.

“In the 1990s when the reserve price scheme collapse, many holdings in the major wool growing areas changed hands but traditionally, the Central West area has been tightly held.”

Mr Turner said market strength was being driven by industry confidence and good commodity prices.

“As well as Central Queensland, northern producers are seeking a foothold in the region to manage risk associated with being solely exposed to the live export trade.”

He described the previous 12 months as solid in terms of transactions and prices achieved.

“Areas that had traditionally lagged strengthened, particularly the open downs country. A recent example is the sale of Yaraka’s Eltham, that sold earlier this month and achieved a premium for that district.”

Tom Brodie, Brodie Agencies

Winton-based Brodie Agencies principal, Tom Brodie said the Central West continues to offer good value for money.

“With rainfall ranging from 406mm to 470mm (16 inches to 18.5 inches), some areas can be drier than others, particularly west of Winton and Longreach. However, once producers buy into the region and learn how to manage and operate the country, they do quite well at those lower rainfall levels.”

Mr Brodie is confident demand will remain firm, with scope for further upside if livestock prices hold.

“The coming three to nine months are looking favourable for both the livestock and property markets. Strong commodity prices will influence the market and prices should be as strong as, or marginally stronger than, those levels achieved in the last six months.”

Mr Brodie reports good inquiry for his current listings – Mudgeacca, Kellys Creek and Pauralos Park.

“It is coming from locals, producers across the state, New South Wales and the Northern Territory. Most have breeder country and are seeking well located holdings that offer value for money for weaners and backgrounders on the way to market.”

“Currently, there are more buyers than sellers with half a dozen inspections booked for both Mudgeacca and Kellys Creek and Pauralos Park. However, the tables may turn with several producers considering selling.”

This means the dynamics may transition from a seller’s market to a buyer’s market.

In addition to the strong commodity prices, Mr Brodie said decision making will be influenced by the season.

“Buyers like to see 12 months of production in front of them. With the current favourable season, they are almost certain to get it – although there are no guarantees.”

Properties under offer

The 8282ha exclusion fenced Saltern Creek, 22km north-west of Barcaldine, described as extremely well grassed and well managed with strong improvements, is under offer following an expression of interest campaign. It is understood the vendors were chasing above $500/ac in line with the sale of the neighbouring Culburnie which sold for $539/ac and was described as a strong result.

Properties sold

• After attracting strong interest from central and southern producers, the 15,898ha Webb Station, a breeding, backgrounding and finishing opportunity, 60km north-west of Winton, sold to neighbour, Tom McLeish, for $12m or $755/ha ($305/ac) or $8300/AE.
• May – the 3225ha Randwick exceeded expectations, selling at auction for $3.55m or $1101/ha ($445/ac) or $11,500/AE. The freehold backgrounding and finishing block, 13km north-east of Winton, was purchased by neighbours Roger and Nerida Henwood and family. The auction was strongly contested due to its location, quality soils and the benefit of two floods giving the incoming purchaser 12 months’ worth of feed.
• In July, Dirranbandi producers paid $14.8m WIWO, a district record, for the 11,354ha Ernestina Plains, a blue-ribbon breeding, backgrounding and finishing property situated between Cloncurry and Julia Creek.
• August – 7185ha Benalla, 85km west of Blackall, sold for $6.4m or $891/ha ($360/ac) or just under $10,000/AE.
• August – 4704ha Woodbine,15km north of Blackall, achieved around $10.2m or $2169/ha ($877/ac ) or close to $14,000/AE.

Mr Dyer said the Woodbine sale was in line with other better quality sales closer to Blackall achieving $14,000/AE to $15,000/AE and was on par with prices achieved for top scrub country in the Central Highlands.

• September – Located 72km from Blackall, the 34,004ha Mt Harden Aggregation sold for $47.822m or more than $14,000AE. Comprising three adjoining properties – Mt Harden, Lowana and Morundah – it has a strong breeding, backgrounding and finishing history and capable of running more than 6000AE.
• October – the 8255ha Culburnie, 30km north-west of Barcaldine, sold to a neighbour for $11m or $1332/ha ($539/ac) or $11,700/AE. During the vendor’s four-year ownership, they had heavily invested in water infrastructure and fencing.
• Late last year, the 17,389ha Glenthomson, 20km south of Longreach, changed hands for $12m or $690/ha ($285/ac) with the sale price reflecting the state of the property.
• Earlier this month, the 8404ha Eltham, 40km north of Yaraka, transacted for more than $6.23m or $740/ha ($300/ac) to a local family from Richmond. The other half of the Eltham Aggregation, the 7375ha Nobdale is available for separate sale.

Properties listed for sale

• The adjoining Kelly’s Creek and Pauralos Park spanning 22,018ha have been listed for $988/ha ($400/acre). The properties are located on the highway between Winton and Longreach.
• Boulia’s blue ribbon Mudgeacca Station is on offer $30m. Spanning 48,205ha, it sits at the top of the Channel Country. The walk-in walk-out sale includes 2500 mixed cattle of which 1650 are organic