Foreign investment in Northern Territory cattle stations continues to increase, whilst new data shows consumer confidence is growing in the N.T property market. Earlier this year, CoreLogic and TEG Rewards conducted a housing survey, and revealed that 90% of consumers were assertive in purchasing rural property in the present-day climate. It seems only fitting that this sentiment is reciprocated with the confidence of foreign investment.
This conviction in property as an asset indicates that ‘property rights’ are becoming much more favorable than other investments i.e. cash or bonds. The market trends in the Northern Territory also indicate that they are a lot less precarious than other equities.
A current investment bid of $386 million led by BBHO, a conglomerate of Australian grazing families, for full ownership of the iconic S Kidman and Co cattle station; indicates a whopping $15 million increase from the previous Chinese led bid. Such rapid fluctuations in bidding (within a 5 month period), presents a set of respectable indicators to support a confidence in the rural cattle station market. This reassurance in property can only mean one thing: a healthy, competitive and growing rural property sector.
In a time where bonds and equities are less and less stable, the rural property sector thrives strong, and awaits investors.
Written by Daniel Dolatowski