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Values up for northern rural properties
10 Sep 2007
Values of rural properties across northern Australia are climbing as cashed-up cattle barons seek to expand. Property advisers Herron Todd White have estimated that prices for cattle properties have grown at 25 per cent each year since 1999. HTW said that there was a new wave of confidence in the northern pastoral industry due to the current abundance of feed. Demand is being driven by local, financially strong families who have made money out of the beef industry and who can average out the purchase costs over their other holdings. A property manager from Elders Real Estate in North Queensland said that it was probably the greatest undersupply of property for sale he had seen in 18 years.
Financial Review, 10/09/2007
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