Rural property market remains red hot despite coronavirus

Red hot rural property market defies coronavirus

Property
Coronavirus appears to be having little impact on Queensland's red hot rural property market.

Coronavirus appears to be having little impact on Queensland's red hot rural property market.

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Coronavirus appears to be having little impact on Queensland's red hot rural property market.

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CORONAVIRUS appears to be having little impact on Queensland's red hot rural property market with another significant holding selling before its scheduled auction date.

This time it is Leeora Downs, a 3560 hectare (8797 acre) scrub block in the tightly held Arcadia Valley that has gone to contract without being tested by auction.

Leeora, which was marketed by JLL Agribusiness, was signed up earlier this week by a local landholder, reflecting the large number of cashed up buyers continuing to circle productive cattle country.

Also selling before auction in the past month are The Patrick, Barcaldine, and Mount Lonsdale, Mungallala. Noted 9540ha (23,573 acre) Goondiwindi property Welltown was also sold by Landmark Hardcourts before the end of its marketing campaign.

While the price on Leeora has not been disclosed, it is sure to be a mouthwatering premium. The Patrick, marketed by GDL, is understood to have made $180/acre, and Mount Lonsdale, marketed by Resolute Property Group, made upward of $400/acre.

While auctions and tenders continue to dominate the pages of Queensland Country Life, a number of properties are also being offered with an asking price. Landmark Harcourts has the Walker family's significant St George holdings Cashmere West and Tarilla both listed at $12 million.

Landmark Harcourts' western Queensland real estate manager Darryl Langton said coronavirus did not appear to be impacting on the strength of the market.

"Campaigns are generally either an auction or a tender, whether that's an expression of interest or an offer to purchase," Mr Langton said. "But there are some being offered with a price. In the current climate they are all creating plenty of interest."

Agents have adopted a 'separate vehicles' policy to adhere with the federal government's social distancing requirements.

"I go in one vehicle and the buyers go in another and we communicate by two-way (radio)," says Ray White Rural agent Russell Lindley, who is currently marketing the 13,777ha (34,044 acre) Develin at Marlborough.

"When we pull up for smoko or lunch we just keep the required distances.

"It's not ideal but it works."

MORE READING: 'McClymont's Saxby Downs offered with 20,000 cattle'.

MORE READING: 'Rockwood Station: Top Hughenden country on the market'.

The story Rural property market remains red hot despite coronavirus first appeared on Queensland Country Life.

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