The valuer general has been out and about in Qld recently. Generally land prices have dropped-as most of us bush located know. Droughts, floods, cyclones and mining developments have all combined to depress property values and sales have reduced as a result.The QLD Country Life (5 May 2011) stated that some grazing properties had decreased in value by between 20-50% since market highs of 2006-07. Last year I commented on the number of for sale signs in a 250 km radius around our place. It’s true that some have settled, others which also include cotton properties are still being pitched at the high end of the market; unsuprisingly there are few buyers. Unfortunately it’s not the 80s anymore. The market wont pay the $ for green acres or water licenses that were bandied about pre-drought during the ‘glory’ days ( at least in this neck of the woods) as one economist recently coined them. One would think that the stronger commodity prices should cause a rise in property prices next year. Maybe. I worry about Germany pulling out of the euro, the euro market collapsing, China reneging on mining deals in Australia (the super power isn’t as resiliant as the general media would have us believe) and the once ‘most secure’ investment in the world, US treasury bonds being downgraded by S&P. The GFC isn’t finished and Australia may yet have to tighten the belt if the northern hemisphere continues to wobble. Meanwhile in the bush it’s all about the value of one’s asset, so it will be interesting to see the results of some of the prime grazing properties that are currently on the market in QLD.