7 June 2002

Oz also offers opportunities

farmland values in Australia have risen steeply during the past few years, helped by high international commodity prices and a relative absence of drought.

But it is difficult to quote typical values with such a huge range of property sizes, types and climates, say leading real estate firms.

A recent sale in the Northern Territory of Delamere Station in the Victoria River Downs region made $A15.25m (£6m) for 3000sq km (741,300 acres) of land carrying 29,000 Brahman cattle. It was bought by the Tejas Land and Cattle Company, which now has four stations carrying 100,000 head.

Northern Territory cattle farming on a grand scale is attractive to American and Japanese meat companies, but traditional investment also comes from the UK. &#42