The Northern Territory's Conways Station has been sold to an Australian partnership for $5.8 million, capping off a strong year for the pastoral market.
The 1,392 square kilometre Central Arnhem Land property was bought by Conway Country Corp, based in Richmond, Victoria.
The sale price marks a significant jump since the property was last sold in 2006 for $3.2 million.
It is not clear if the listed sale price of $5,795,000 included any livestock, either cattle, buffalo, or other animals.
Territory Rural general manager Andrew Gray said property sales in 2017 had carried on from the momentum of 2016.
"Although probably not with the same volume of properties exchanging, although the Alice Springs region has been very active," Mr Gray said.
"We have experienced strong sales in the Top End, with the likes of Willeroo and Aroona Stations completing transactions this year, and there are a number of other properties that are under contract or close to completion, as I understand it.
"It is a strong testament to the northern livestock industry, which is in very good shape."
Property holds as livestock prices remain steady
Mr Gray said property prices had levelled off this year as live export prices remained steady.
"I didn't see much in the way of price growth. There are still pretty strong values compared to some years back," he said.
"I have done some appraisal work on livestock recently, and it hasn't differed a great deal from last year."
This year a number of family owned properties changed hands in central Australia, including Napperby Station, which sold for $20 million.
There were also some famous names buying properties, with former Northern Territory cattle baron Peter Sherwin returning to the Top End property market, buying Broadmere Station at the age of 93.
Gina Rinehart added to her burgeoning beef portfolio with the purchase of the neighbouring properties Willeroo Station and Aroona Station.
Mr Gray said Ms Rinehart's continued investment in northern beef was a good sign for the industry.
"You would have to think such an accomplished businesswoman would have a firm view to the future, which would only spell a very favourable view for everybody in the Northern Territory," he said.
"Mrs Rinehart and other corporate businesses have purchased properties in the north, which is a very strong mark for the Northern Territory cattle market, in my view."
Overseas buyers still interested
While there were no Northern Territory pastoral properties sold to international buyers this year, Mr Gray said there was still interest from overseas.
"There is still a very strong interest. There had been a flurry of international purchases, Vermhela Station, for example, and Elizabeth Downs Station a few years ago," he said.
"But there is still significant interest."
Mr Gray expected several properties to come on the market as the wet season came to an end in early 2018.
