CQ cattle properties in demand
CENTRAL Queensland cattle properties are being snapped up like hot cakes, with a flurry of recent sales signalling a renewed level of industry confidence.
Pat O'Driscoll Real Estate Rockhampton sales consultant Robyn Bentley said four cattle properties had either sold at auction or gone under contract in the past couple of weeks.
Collectively these conditional sales alone are likely to see $9.6 million worth of grazing land change hands.
The properties are: 151 hectares at Ridgelands; 133 hectares at Gogango; 113 hectares at Bushley near Stanwell; and 2823 hectares at Clarke Creek.
"The Bishop Rd property (Ridgelands) was to go to auction but it sold prior to auction for the price that the vendor was obviously looking for," Ms Bentley said.
"And 'Yatton' on the May Downs Road, Clarke Creek, sold at auction this week for $7.4m with 11 registered bidders.
"Just how things have changed from two or three months ago.
"We're now seeing really strong enquiry for rural properties.
"More listings are urgently needed to keep up with, and fulfil, buyers requests at the moment.
"Yesterday I got a call from people who want to spend up to $1.5 million to run up to 200 breeders.
"There seems to be a lot of people that have their finance approved and they're ready to buy, but they just can't find the properties because the stocks are so limited at the moment."
Ms Bentley said the purchasers of the above-mentioned four properties had come from within CQ and that was also where the bulk of enquiries were coming from.
"I normally run around 55 listings myself (rural and residential), I'm now basically out of any properties that are around that 200-plus acres that you can make a small living off."
Ms Bentley said the coronavirus period had contributed to what the market was currently seeing.
"I think people have had a little bit of time to reflect due to COVID," she said.
"It has given them time to consider 'what do I really want to do?'
"And a lot of people are thinking going back to the bush is a good opportunity, and a chance to have a bit more of a relaxed lifestyle."
Earlier this month, the Herron Todd White Rural Month In Review May 2020, painted a positive picture for Central Queensland.
"A transition to virtual auctions and expression of interest campaigns has not appeared to slow the white hot Central Queensland rural property market," the report said.
"Seasonal conditions vary however most CQ districts are entering the winter period with a reasonable level of feed reserves, and beef commodity sentiment remains positive despite cattle markets easing from historic highs.
"While the COVID-19 risks to the processing sector and global logistics create an element of concern, graziers are taking comfort in the record low national herd and soft $A which will offer some support to prices."