increase font size
Farm sale volumes are down but values are holding up.
Recent data from the Real Estate Institute of New Zealand (REINZ) shows a 22.5% drop in the amount of farm sales for the three months ended July 2023 than for the same period in 2022.
In the year to July 2023, 35.5% fewer dairy farms were sold and 11.1% fewer dairy support farms were sold when compared to the year to July 2022.
The median price per hectare for all farms sold in the three months to July 2023 was $29,450 compared to $27,875 recorded for the three months ended July 2022, up 5.7%.
The median price per hectare increased by 6.1% compared to June 2023.
Dairy farms accounted for 12% of all sales and finishing farms accounted for a 31% share of all sales, while grazing farms accounted for 26% of all sales.
REINZ rural spokesman Shane O’Brien says the results follow the current trend for the year so far, with a reduction in the number of sales across the country in all sectors.
“The largest reduction occurred in the dairy sector with a 35% reduction in sales as farmers focused on controlling farm costs and higher interest rates and a predicted drop in farm gate milk prices,” O’Brien says.
“Similarly, the volume of sales of dairy support units was back.”
He says there was also a substantial decrease in the volumes of sales in the pastoral sector, which includes grazing and finishing properties.
“Recent weather events across a lot of New Zealand, a lower number of listings on the market and a drop in inquiry for carbon farming and forestry will have impacted this sector.”
O’Brien adds that while sales volumes themselves are down, sale values are holding steady.
He says the median price paid across all sectors is up by 5%.
“This shows that buyers, although being cautious will pay a good price for the right property that meets their needs,” he says.
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.
Recent data from the Real Estate Institute of New Zealand (REINZ) shows October was another month in which there were fewer farm sales than at the same time in 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.
A governance group has been formed, following extensive sector consultation, to implement the recommendations from the Industry Working Group's (IWG) final report and is said to be forming a 'road map' for improving New Zealand's animal genetic gain system.
Free workshops focused on managing risk in sharefarming got underway last week.
Annual farmer gathering, the South Island Dairy Event (SIDE), is set to make history as it heads to Timaru for the first time.
Installing 400 solar panels at their Taranaki piggery and cropping operation will have significant environmental, financial and animal welfare benefits for the Stanley family.
WoolWorks, New Zealand’s largest wool-scouring company, has partnered with the Lions Club of Riverton to help raise money for much-needed repairs to the Southland town’s swimming pool.
OPINION: The dairy industry will be a major beneficiary of a new free trade deal between NZ and the Gulf Co-operation Council (GCC).
OPINION: Fonterra may have sold its dairy farms in China but the appetite for collaboration with the country remains strong.
OPINION: The Listener's latest piece on winter grazing among Southland dairy farmers leaves much to be desired.
