Tuesday, 15 October 2024 11:55

Shift in farm sales, prices

Written by  Jessica Marshall
There was an 18.9% increase in farm sales for the three months ending August 2024 compared to the same period in 2023 There was an 18.9% increase in farm sales for the three months ending August 2024 compared to the same period in 2023

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.

However, this was still a 10% decrease on the 231 sales recorded for the three months ending July 2024.

In total, 923 farms were sold in the year to August 2024, a decline of 166 farms compared to the previous year.

Overall, the REINZ All Farm Price Index showed stability, with a slight decrease of 2.1% in the three months leading up to August compared to July.

The three months leading to August 2023 marked a 3.2% decline.

REINZ rural spokesman Shane O’Brien says that despite the headwinds currently faced by the rural sector, it is encouraging to see sales levels reach the same levels of the past two years, with 57 sales recorded in August 2024 compared to 55 in August 2022 and 51 in August 2023.

“August is traditionally a slow month for sales as many sellers wait for the warmer spring months and the traditionally busier selling months of October to December,” O’Brien says.


Read More


“Many agents across the country are reporting increased enquiries during the month, with many tipping, so there could be some renewed confidence among buyers towards the dairy and dairy support sectors of the market,” he says.

For the three months ending August 2024, the median sales price per hectare for dairy farms was $36,930, compared to $35,705 for the three months ending July 2024 and $35,960 for the three months ending August 2023. The median price per hectare for dairy farms has increased by 2.7% over the past 12 months.

More like this

Buyers hunting for right farm

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).

Buyers influence rural market

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.

Change in govt could boost farm sales

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.

Farm sales down, values holding

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.

Featured

Farmers urged not to be complacent about TB

New Zealand's TBfree programme has made great progress in reducing the impact of the disease on livestock herds, but there’s still a long way to go, according to Beef+Lamb NZ.

Editorial: Making wool great again

OPINION: Otago farmer and NZ First MP Mark Patterson is humble about the role that he’s played in mandating government agencies to use wool wherever possible in new and refurbished buildings.

Helping protect sheep from parasites

Everyone from experienced veterinarians and young professionals to the Wormwise programme and outstanding clinics have been recognised in this year’s New Zealand Veterinary Association (NZVA) awards. As part of a series looking at this year’s rural winners, Leo Argent talked with Ginny Dodunski, winner of the Veterinary Impact Award for raising the profile of the Wormwise programme.

National

Lame stories from a country vet

Everyone from experienced veterinarians and young professionals to the Wormwise programme and outstanding clinics have been recognised in this year’s…

Machinery & Products

Amazone extends hoe range

With many European manufacturers releasing mechanical weeding systems to counter the backlash around the use and possible banning of agrochemicals,…

Gong for NH dealers

New Holland dealers from around Australia and New Zealand came together last month for the Dealer of the Year Awards,…

A true Kiwi ingenuity

The King Cobra raingun continues to have a huge following in the New Zealand market and is also exported to…

» Latest Print Issues Online

Milking It

Greenpeace a charity?

OPINION: Should Greenpeace be stripped of their charitable status? Farmers say yes.

Synlait's back

OPINION: After years of financial turmoil, Canterbury milk processor Synlait is now back in business.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter