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The median price for dairy farms per hectare has risen 50% over the past 12 months, says REINZ.
The median price for dairy farms per hectare has risen 50% over the past 12 months, says the Real Estate Institute of New Zealand (REINZ).
For the three months ended August 2016 the median sales price per hectare for dairy farms was $40,469 (14 properties), compared to $35,614 for the three months ended July 2016 (32 properties), and $26,906 (21 properties) for the three months ended August 2015.
The median price per hectare for dairy farms has risen 50.4% over the past 12 months. The median dairy farm size for the three months ended August 2016 was 100 hectares.
On a price per kilo of milk solids basis, the median sales price was $45.51 per kg of milk solids for the three months ended August 2016, compared to $33.62 per kg of milk solids for the three months ended July 2016 (+6.6%), and $37.50 per kg of milk solids for the three months ended August 2015 (+13.6%).
The REINZ Dairy Farm Price Index rose 6.6% in the three months to August 2016 compared to the three months to July. Compared to August 2015, the REINZ Dairy Farm Price Index rose 6.0%. The REINZ Dairy Farm Price Index adjusts for differences in farm size and location compared to the median price per hectare, which does not adjust for these factors. Care needs to be taken during the winter months as the low level of sales (14 for the three months to August) can distort the Index figures.
Buoyed by strong forecasts for milk prices and a renewed demand for dairy assets, the South Island rural real estate market has begun the year with positive momentum, according to Colliers.
Farm sales are on the rise. According to recent data from the Real Estate Institute of New Zealand (REINZ), there was an 18.9% increase in farm sales for the three months ending August 2024 compared to the same period in 2023.
It could be that buyers are hunting out the right farm to purchase as farm sales drop for the three months ended December 2023. That’s according to the Real Estate Institute of New Zealand (REINZ).
Recently released data from the Real Estate Institute of New Zealand (REINZ) shows there were 77 fewer farm sales for the three months ended November 2023 than for the three months ended November 2022.
Recently released data from the Real Estate Institute of New Zealand (REINZ) shows that while the number of farm sales is low, the market remains strong.
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