TWO properties in the Maranoa district sold under the hammer last week, giving signs property values are stabilising and buyers are willing to meet the market at current price levels.
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The properties Glenmore at Surat sold for $975,000 while Redfern in the Mitchell district that made $440,000.
Vendors for both properties Shawn and Karina Dobbin were very happy with the results exceeding their reserves considerably on both properties.
Glenmore, with a vendor estimated carry capacity of 500 breeders sold to Biloela district cattle producers Steve and Margaret Johnston and the price which equates to $135/ha.
Redfern, with an estimated carrying capacity of 220 cows plus weaners, was knocked down to local cattle producers Warren and Jane Wilson Redbank, Mitchell, for $440,000, equating 214/ha, with the buyers looking for additional area in the district
Selling agent Rob Wildermuth, Ray White Rural, Roma said there were 15 registered bidding parties registered at the auction.
"And while both properties were at the smaller end of the area-scale, the high levels of inquiry they generated, and the strong interest witnessed for other listed properties in recent weeks, has caused some surprise in what has long been a subdued market climate," Mr Wildermuth said.
He said both holdings were carrying regrowth timber and were considered big development blocks with potential for further improvement.
And while the season at Redfern were described as very dry, Glenmore is experiencing an average season.