The current strength of the rural property market is seeing many districts achieve record prices per hectare, and this is being driven by three main factors, according to the Elders state real estate manager for Queensland and NT Mark McNamee.
Mr McNamee said firstly the rural real estate market rise was driven by the strong cattle market, particularly in central Queensland.
"It was the central Queensland cattle properties that initially led the charge in terms of increased values, but this has now extended to most other districts," Mr McNamee said.
He said the interest rates for borrowing money were at a historic low, which was also having some influence on the market, and the third factor was the seasonal change after much-needed rain in a lot of districts.
"After years of difficult times, a break in the season gives many vendors an opportunity to realise the value of an asset they have worked hard on for many years."
Mr McNamee said in his 25-year agricultural career he had never seen as much interest in rural property, from both the buying side and vendors looking to sell.
"We are seeing strength in all sectors of the market from those who want to transition to a rural lifestyle, to the family farm and on to the higher end of the corporate market - they are all performing well," he said.
"Overall, it is a reflection of the confidence that there is in the agricultural sector, as investing in property requires a long-term vision," he said.
Mr McNamee said over the past couple of months they had handled property transactions from $1 million to $60m and beyond.
"Listings from cattle, farming, horticulture, both dryland and irrigated have all drawn a high level of interest, and values increased by up to 15 per cent, and I don't see it ending," he said.
"The feedback I am getting from our rural real estate agents across Queensland and the Northern Territory is that interest remains strong and I don't see the current boom ending anytime soon."
Helen Walker
Helen is the Toowoomba-based journalist who loves nothing better than covering anything horse sport related, however she covers all commodities and personality yarns. Over the years she has lived in Brisbane, Rockhampton, Longreach and Roma filing stories for the 'bible of the bush'. Contact 0459 827414.
Helen is the Toowoomba-based journalist who loves nothing better than covering anything horse sport related, however she covers all commodities and personality yarns. Over the years she has lived in Brisbane, Rockhampton, Longreach and Roma filing stories for the 'bible of the bush'. Contact 0459 827414.
