RURAL valuer Herron Todd White has put a dampener on claims that the rural property market is about to achieve levels not seen since the 2007-08 boom.
HTW national director rural Tim Lane said while there had been some strong sales in recent months, particularly in parts of Central Queensland, there was little evidence to suggest the market was entering a period of rapidly improving values.
Despite record high cattle prices and low interests rates, the market continues to be influenced by an oversupply of property and poor seasonal conditions over much of Queensland, he said.
Mr Lane's observations appear to be supported by the sale of a number of long-term listed properties which have been subject to up to three separate marketing campaigns. A number of these properties have sold at values below advertised prices.
Elders rural property manager John Burke said the strength of the rural property market was evident in Central Queensland and on the Darling Downs.
“There is no doubt there is strong underlying demand for agricultural land from both domestic and international buyers,” Mr Burke said.
He said a challenge for the industry was the generally limited numbers of properties being offered to the market.
Vendors with properties that would otherwise be offered to the market were hoping for a major turnaround in seasonal conditions.
“A wet season will very likely result in a very busy autumn period in 2016,” he said.
