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.
The median price per hectare for all farms sold in the three months to September 2014 was $26,000 compared to $22,851 recorded for three months ended September 2013 (+13.8%). The median price per hectare fell 2.2% compared to August.
Five regions recorded increases in sales volume for the three months ended September 2014 compared to the three months ended September 2013. Northland recorded the largest increase in sales (+22 sales), followed by Auckland (+12 sales) and Nelson (+10 sales). Compared to the three months ended August 2014, four regions recorded an increase in sales.
"The rural market was reasonably quiet in September this year with sales volumes similar to September last year", says REINZ rural spokesman Brian Peacocke, "However, comments from around the regions confirm strong buyer interest for good quality, well located properties, with indications of a reasonable supply of listings as spring advances."
"In contrast to the dairy sector where the reduction in payout has dominated the news, the sheep and beef sector is experiencing increasing prices and an improving outlook for product returns. September sales in the horticultural sector were better than for the same month in the previous two years."
Highlights Include:
• Early sales of dairy units in the Waikato have achieved per hectare levels firm on last season with quality dairy support units also having sold strongly;
• Horticultural sales in the Bay of Plenty reflect improving conditions in the kiwifruit industry with both green and gold orchards in good locations being keenly sought after at very good prices;
• Nelson and Marlborough have also experienced a solid September in the horticultural sector;
• Sales of finishing and grazing properties remain steady across the country; and
• There is healthy enquiry from the investment sector for quality rural properties.
Grazing properties accounted for the largest number of sales with 46.7% share of all sales over the three months to September 2014, Horticulture properties accounted for 15.6%, Finishing properties accounted for 13.8% and Arable properties accounted for 12.1% of all sales. These four property types accounted for 88.1% of all sales during the three months ended September 2014.
