Queensland north and north west markets look towards promising future: HTW rural

Queensland north and north west may serve as a good source of employment while the hospitality sector struggles, according to the latest rural report from valuation firm Herron Todd White.

“As the pandemic is endured, society is looking to the agricultural sector to continue to produce an abundance of clean and safe foods,” the firm said.

“The low Australian dollar is of benefit to competitiveness for the sale of our safe and nutritious products on the global market”

This does not, however, mean boom time for agricultural property markets.

Unlike urban residential markets, graziers are still pushing ahead with their interest in acquisitions and expansions.

The pandemic has reduced the hot air value talk, which is a healthy thing for the rural property markets.

North and north-west Queensland has a limited supply of rural land on the market.

Demand is moderate to strong in the small to middle scale property sizes.

The pandemic has served to place a head check on purchaser frivolity.

“Vendor prudency is required as the pandemic continues and commodity supply chains redesign themselves. Not only is the pandemic a property market risk checker, so too is the season,” the report continued.

“There are parts of north and north-west Queensland that have not had the best season, and there are districts that have had a cracker of a season.”

Cattle are being sold off accordingly to southern markets where there have been better seasons.

This southern demand has served to mask the market while the supply chain issues around ports and meatworks are sorted.

At this stage, rural property markets in the north and north-west Queensland appear stable. Stakeholders are considering their risks and implementing protocols to protect their health while they continue to grow an abundance of healthy and safe food.

The full “Month-in-Review” Herron Todd White report for April can be found here.

Note regarding COVID-19

This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.

This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.