Strong rural property deals in central Queensland yet to filter north: HTW
The North Queensland grazing property market is moving quietly, according to Herron Todd White, who said reports are of strong deals in central Queensland have yet to filter north.
HTW said a number of grazing propositions are still on the market, spread geographically from the south of Charters Towers to Pentland/Prairie towards Croydon and Hughenden.
"Of note is the offering in Rocky Downs on the Gregory Development Road (Clermont Road, to the south of Charters Towers). This property sold in June 2013 for $3.7 million which was $191 per hectare ($77 per acre)," HTW said.
As a guide, the following sales have occurred in the market:
• Victoria Downs - $320 per hectare ($130 per acre)
• Broadleigh Downs - $233 per hectare ($94 per acre)
• Liontown (after deducting cattle and plant) - $470 per hectare ($190 peracre)
• Devon Park - $350 per hectare ($141 per acre) • Coronation - $293 per hectare ($119 per acre)
HTW said given Rocky Downs’ access and proximity to the central Queensland market, enquiry is expected from local graziers and also those from central Queensland.
"It has been some time since southern buyers have entered the northern Queensland market," HTW said.
"The sales in the past year have been local buyers. Property market stakeholders may see a line in the sand in this phase of the property cycle.
"Reports are of strong deals in central Queensland at present, so perhaps that will encourage the southerners to look north.
"Another point of interest in the recent phase of the property market cycle is the private sale of stations without publicised marketing campaigns.
"Over the past ten months there have been six stations sold without a public campaign. These have been quietly negotiated. Buyers and sellers have not wanted to go public with their details. Business has simply been getting done.
"Talking about stark contrasts, the current grass status across the north is changing quickly.
"Has anyone noticed the changes in the drought declared shires?
"The remaining shires on the current Drought Declaration map show McKinlay, Richmond, Flinders, Charters Towers, Tablelands, Burdekin and Townsville Local Government Areas as being Drought Declared.
"It will be interesting to watch what happens to the Charters Towers declaration following the recent rain event in that shire. The rain gauges around Greenvale and down towards the Burdekin Dam nally received some follow up rain.
"Now that the temperatures are dropping, the country to the west of Pentland has or is haying off. So where is the grass?
"At present, there is some good grass in the Burdekin Valley, then another good patch in the basalt to the north of Hughenden, areas to the north of Richmond, Nonda, Nelia and to the north of Cloncurry."