The dream of owning a cattle station in the Northern Territory is becoming harder to achieve for young people, as land prices steadily rise.
Enormous cattle stations are the Park Lane or Mayfair of the Northern Territory property market, dotting a landscape where cattle barons have been making their mark for decades.As land prices rise it's increasingly difficult for young people to buy a cattle stationThey aren't cheap. Last year the 376,000-hectare Kalala Station near Daly Waters sold for $58 million to a family.
"We have a market to our north and that's been in play for a long time, and markets developing outside traditional cattle grazing," he said. "Now that's not a shire in some areas of New South Wales and Victoria, so we have huge tracts of land." Leasing has been a common way for many families to build up the capital and stock they need to buy a station."Perhaps [it's] not going to be your forever home, but it gets you into the market and you build from there, and there are some real success stories in the Northern Territory of people who have been able to achieve that by leasing country, agisting country, and then building as they go.
Steve Cadzow feels lucky to have dodged such issues when he took over the family's Mt Riddock Station in Central Australia a few years ago.
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