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Queensland leads rural property boom
13 Oct 2008
Rural land prices are rivalling the prices being received for Sydney office towers says property research firm RP Data. In the four months to the end of August, $436 million was spent buying large rural land holding worth $5 million *or* more each. The most expensive rural land transaction during the period was a holding in western Sydney that sold for $62 million. Queensland rural property was particularly in demand with $226 million of sales worth more than $5 million. Agents said demand from the farmers wanting to move cattle out of the drought stricken Barkly Tablelands in the Northern Territory was driving much of the demand in north Queensland. In Victoria Glenfine Station sold for $21.4 million.
The Australian Financial Review, 13/10/2008
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