I stumbled upon a very interesting June 2008\u00a060 minutes story\u00a0on NT property prices, titled ‘Bonanza’.\u00a0 Liz Hayes does a good job of interviewing Ben and Traci Tapp of Mountain Valley Station, Tony Davis of Limbunya, and Marlee and Franz Ranacher of Bulloo River Station.\u00a0 The story focuses on the rise in cattle station prices and one of the main reasons given is the relative abundance of water.\u00a0\u00a0 (Poorer soils, distance to markets and high costs of living and running a business counterbalance the abundance of water and relatively reliable rainfall, however these aspects weren’t mentioned; nor was the fact that it’s not realistically possible to make a Territory station produce an annual running profit, when purchased for $50 million upwards – hence the rapid turnover of cattle stations bought for top-drawer prices.\u00a0\u00a0 In recent years it has only been possible to make a honest profit\u00a0when\u00a0big cattle stations bought for high prices are sold for even higher prices and capital gains profits are realised.)<\/p>\n
One of the best quotes is from Tony Davis,\u00a0owner of Limbunya Station:\u00a0 ‘Properties are like people.\u00a0 Some have character, some don’t, some are boring, some are exciting.\u00a0 This is exciting (Limbunya).\u00a0 It’s got beauty.\u00a0 It’s got wild country, it’s got very productive country.\u00a0 It’s got everything.\u00a0 It’s got it all.’\u00a0 The story does an excellent job of explaining the emotional connection station owners have with their land.<\/p>\n
At the time, Limbunya station had just been put on the market by Tony and Pam Davis and Ben and Traci Tapp have since put their Mountain Valley and Maryfield cattle stations up for sale also.\u00a0\u00a0 Tony and Pam intended to concentrate on their other station, Moroak.<\/p>\n