Cattle market drives property boom
THE Southern Downs property market reveals a two-speed economy, with rural valuations rocketing more than 19% and residential land remaining flat.
The rural land boom is closely aligned to the stellar performance of the cattle industry, according to the valuer-general's 2017 property market report.
Valuer-general Neil Bray said the rural valuations echoed the improved confidence in the agricultural market in 2016.
"Continued high commodity prices within the beef industry and continued low interest rates are driving this confidence, although the majority of the state remains drought declared,” Mr Bray said.
The total value for rural land on the Southern Downs increased by 19.1% from the previous valuations in 2015.
George and Fuhrmann Warwick director of livestock sales Matthew Grayson said there was a strong correlation between the region's current property values and the beef market.
"There has definitely been increased activity recently, with owners of cattle properties in the region contacting us to find out what their land is worth and also people from outside the area wanting to buy,” he said.
"There has been interest from western Queensland graziers who want to move closer in but still want to run cattle, making Warwick the ideal area.”
Meanwhile Mr Bray said residential land prices remained flat in Warwick and Stanthorpe.
"Residential land values have generally remained unchanged in Warwick and Stanthorpe where the respective median values are $95,000 and $83,000,” MrBray said.
To check your land valuation visit www.dnrm.qld.gov.au.