Narrow-sense heritabilities of the wood properties of two-year-old Eucalyptus bosistoana F.Muell. were estimated from 623 stems. Heritability estimates were calculated for: growth-strain (0.63); density (0.54); diameter (0.76); volumetric shrinkage (0.29); acoustic velocity (0.97) and stiffness (0.82). A modified version of the splitting test for detecting growth-strain is described. The modified rapid testing procedure resulted in left-censored growth-strain data so a Bayesian approach was implemented to reduce errors associated with censored data sets. Correlations between wood properties are presented and discussed, as well as trade-offs when shifting trait means by selective breeding.