Action results in the area have been mixed; however, again it appears that better quality blocks are showing more resilience to an easing market.

This is supported by the recent auction of Inverness located south of Blackall which sold for $14,000,000. The block comprises a total area of 22,583ha (55,800 acres) of developed gidyea scrub in freehold title.

The sale reflects about $250/acre and is a sound result given current market conditions.

Vermont Park located south west of Moranbah failed to sell at auction this month and was passed at a bid of $9.5M.

This would reflect about $576/ha ($233/ac) for the 16,495hectare property, which comprises predominantly developed brigalow scrub with a balance area of ironbark, bloodwood forest.

Clermont district blocks, Walton Downs, and Mt Lebanon, reached sale at auction for $4,055,000 and $975,000 respectively or about $1,160/ha ($469/ac) and $964/ha ($390/ac).

A number of re-sales have indicated a slight reduction in the market from the 2007 peak. This is principally due to a reduction in the pool of potential purchases in the area created by a tightening of lending policy compounded by the strong Australian dollar and easing cattle market.