In recent months, the Northern Territory’s rural property listings have been chock-a-block with one thing – cattle stations. It seems like every other farmer is either buying or selling a number of hectares with thousands of head of cattle included, fostering a strong property market in particular around Katherine.
The 57,000-hectare property Florina Station, situated west of Katherine, sold for $6.8 million through private sale, after being on the market for just 6 weeks. Real Estate.com.au stated it was sold to an Australian company with International backing, unlike Phoenix Park, Inverway and Riveren stations which sold to Gina Rinehart’s Australian company Hancock Prospecting. The Phoenix Park property has space for over 30,000 head of cattle, with Radio Australia highlighting Rinehart’s investment in Australia and its rising beef industry.
Lonesome Dove Station, a property in the Northern Territory’s Roper Valley, was bought by another Aussie farmer despite interest from local, interstate and international buyers. The ABC sees the high number of interested players as an indication of a strong rural property market, an after effect of the rise in beef prices.
Sue Brosnan from Tanami Rural Property told Beef Central the influx of listings is due to cattle property owners taking advantage of solid commodity prices and a good level of interest from both foreign and local investors.
There are still a number of holdings hitting the rural property market around Katherine and the wider Northern Territory. Vermelha station is set to sell, with high levels of foreign interest in the 200,000-hectare property. The land for sale is currently holding 10,000 head of cattle with room for more. Katherine is full of rural real estate and property for sale, and with the growing beef industry, the cattle stations up for grabs are the real deal.