By 1922, the status of Bullamon Homestead had changed from head station of a vast pastoral enterprise to a family home on a small block. 

As a result of resumption and surrender of land, Bullamon Station had been reduced to around 154 square miles (399 square kilometers) by 1922, compared to around 1372 square miles (3553 square kilometers) in 1888. More than half of the latter area was resumed in 1888 when Bullamon was consolidated and divided into leasehold and resumed parts, and there were further resumptions from the leasehold portion in the early 20th century. Substantial parts of the leasehold land were surrendered, due mainly to prickly pear infestation. 

Most of the leasehold land remaining in the 1920s was in the south-western part of the former station (between Thallon and Dirranbandi) and was managed from Noondoo, which was the head station of the Australian Pastoral Company. The exception was the small area known as the horse paddock, across the river from Bullamon homestead, which had been retained as part of Bullamon when the adjacent land was surrendered. The land on which the homestead stands, and a small area around it, was included in the 1914 surrender of land east of the river but was protected under an agreement between the Australian Pastoral Company and the Queensland Government for the duration of the lease on the station. 

After the lease expired in 1946, the remainder of Bullamon Station was divided into nine properties, which were allocated by ballot in late 1952. That brought several new families to the district, some of whom still remain.

At about the same time, a Special Lease was granted to Miss Edith Leila (Biddy) Brown for the Bullamon homestead area, comprising about 182 acres (73 hectares) on the eastern side of the river and about 380 acres (154 hectares) on the western side. The Browns had lived at the homestead, and had use of the land, since late 1917. Vaughan Baker’s father bought that land from Biddy Brown in 1967. As a result of subsequent land sales, the homestead area is now only around 36 hectares. The old homestead has been unoccupied since the mid-1980s.