Australian grazing families making record property purchases as Chinese investment declines
FriFriday 18
Several grazing properties have sold for record prices to Australian families this year.
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A combination of skyrocketing cattle prices and sustained low interest rates have been credited for a series of record-breaking property purchases in northern Australia this year.
Key points:
A number of grazing land sales in northern Australia have broken records this year
Rural property valuer Roger Hill says a combination of high cattle prices and low interest rates are driving the investment
Chinese investment in rural properties has been declining due to foreign investment law changes
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The Herron Todd White December 2020 Month in Review, released this week, indicated Rockhampton, Gladstone, and Emerald had ârisingâ residential house markets, and Rockhampton and Gladstone had rising unit markets.
The report stated Rockhampton was experiencing âvery buoyantâ and âsometimes crazy activityâ.
Property valuer Cara Pincombe wrote: âThe market as a whole has performed beyond expectations in the Rockhampton and Capricorn Coast area.
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She said first home buyers, upgraders, downsizers, retirees, and investors were all active, thanks to low interest rates, low vacancy rates, and an upward trend of prices.
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