Darling Downs rural activity picks up: HTW

The Darling Downs rural market, dominated by anxious vendors or receiver properties for the past three to four years, was seeing farm sales activity that was beginning to restore confidence.

"There is no doubt pain still exists however some positive commodity trends and positive outlook in the meat, grains and cotton industries is starting to be reflected in confidence albeit a low basis," HTW July's rural report noted.

"The rains have been a very welcome sight in the month of June, especially as they fell as far west as Charleville.

"Falls of up to 50 mm have been recorded although it has been very sporadic. 

"The property market is still showing mixed signals at present.

"There has been some strong market indicators within the Taroom area underpinned by strong market competition.

"We are aware of a pending sale of a 2,500 hectare holding within that Wandoan/Taroom district, that if settled will provide another solid indicator.

"A number of unconfirmed settled sales are also pending within the Condamine area including that of Deepwater a 2,201.49 hectares broadacre Brigalow block. Basin Down, further west between Surat and St George was recently sold prior to auction."

Consisting of a 7,159 hectare aggregation ranging between Balonne River, the property is heavier country partly developed to cultivation and running back to transitional Bauhinia and Box country.

The property sold prior to auction on a WIWO basis, between circa $550 and $600 per hectare overall.

"Within the feedlot sector there has been some renewed activity with the reported sale of Opal Creek near Cecil Plains purchased by ACC and The Mount west of Forbes in NSW.

"Overall the activity in the market is a welcoming sign, given that it has been dominated by anxious vendors or receiver properties for the past three to four years now."