INTEREST rates may be on the rise and cattle prices under pressure, but the boom in rural property appears to be far from from over.
Here are five recent sales that show the rural property market is still booming as established farming families continue to invest heavily in agriculture.
What is in common with all of these properties is they have all exceeded pre-auction expectations, a reflection of the ongoing shortage of rural property listings.
Katandra, Dulacca
Leading the charge is the 1463 hectare (3615 acre) Dulacca breeding and fattening property Katandra, which sold at a Nutrien Harcourts GDL auction for $7.8 million.
That's the equivalent of about $5332/ha ($2158/acre) for the very well pastured brigalow/belah melonhole country with box flats along Moraby Creek.
Carinya, Millmerran
Another red hot sale was the versatile Millmerran property Carinya, which sold at auction for $3.7m - the equivalent of $10,725/ha ($4343/acre).
About half of the 345ha (852 acre) heavy, open box country was suited to farming.
Tykoba, Baralaba
Central Queensland country continues to be in demand with the 555ha (1371 acre) Baralaba district property Tykoba has sold at auction for $3.75 million.
Located in the tightly held Kokotungo district 30km from Baralaba, the sale price of the freehold property achieved by Nutrien Harcourts GDL is equal to about $6757/ha ($2735/acre).
Ferndale, Biloela
Also making headlines was the quality 1690ha (4176 acre) Biloela property Ferndale, which Elders sold for $10.8 million.
Offered by the Ferguson family, the property was bought by Dee River Pastoral Company, Calliope, for the equivalent of $6391/ha ($2586/acre).
Mulga country
The boom is clearly evident in the mulgalands where the adjoining Compagnoni family paid $1.725 million at auction for a 4833ha (11,942 acre) block in the Langlo district.
The portion of Mulga Forest sold for the equivalent of about $356/ha ($144/acre) at an extremely competitive Ray White Rural auction.
The star attraction of the freehold property was a capped, flowing bore.
That sale was backed up by the $6 million purchase ($135/ha or $55/acre) of Eulo's 44,500ha (109,962 acre) Dundoo Station, which went to the market through Adcock Partners.
Pre-auction sales
There has also been a spate of buyers jumping the gun with offers to good to refuse, buying choice properties prior to the scheduled auction date.
These have included Carisbrooke at Inglewood, a 1493ha (3690 acre) cattle block on the Macintyre Brook with irrigation; the blue chip 638ha (1577 acres) Wynola aggregation at Brookstead taken to the market by JLL Agribusiness; and the 12,870ha (31,802 acre) Talaheena on the Darr River north west of Longreach, which found its value through Colliers/Simstock Rural three weeks before its scheduled auction date.
