Home' Northern Outlook : June 5th 2013 Contents 7
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4257018AAInterest in farm sales surging
IN DEMAND: Farm sales have been on the rise in the South Island.
THERE HAS been strong demand
for dairy, dairy support, finishing
and arable farms in Canterbury,
the Real Estate Institute of New
Zealand (REINZ) says.
Otago has experienced a strong
demand for drystock properties
and in Southland the market has
been busy for all property types,
according to REINZ data for the
three months ended April.
There were 67 more farm sales
in the South Island (up 17.8 per
cent) for the quarter ended April
than for the three months ended
Nationally overall, there were
443 farm sales in the three
months to the end of April, the
same number of sales as in the
same quarter last year.
In the year to April 1454 farms
were sold, 5.1 per cent more than
were sold in the year to April last
The median price per hectare
for all farms sold in the three
months to April 2013 was
$20,241, an 8.7 per cent increase
on the $18,617 recorded for the
three months ended April 2012.
The median price per hectare
fell by 9.3 per cent compared with
The REINZ All Farm Price
Index increased by 1.4 per cent in
the three months to April
compared with the three months
Compared with April last year
the REINZ All Farm Price Index
fell by 5.2 per cent.
In spite of the earlier dry
conditions that resulted in some
vendors being reluctant to commit
to the marketplace, sales volumes
have remained steady, prices have
remained fully firm and the
demand for rural property has
been consistently strong across
the country, REINZ Rural
Market spokesman Brian
Highlights this month include
strong interest in dry stock and
dairy properties in the Waikato
and King Country, a re-emergence
of interest in the kiwifruit sector
in the Bay of Plenty, steady
activity in the horticulture sector
in Gisborne, and increasing
demand for dairy land in the
lower North Island, underpinned
by bank support.
In the South Island there has
been very strong demand for
dairy, dairy support, finishing and
arable land across Canterbury,
strong demand for drystock
properties in Otago and a busy
market in Southland for all
Grazing properties accounted
for the largest number of sales
with 46.3 per cent of all sales over
the three months to April.
Dairy properties accounted for
19.6 per cent, finishing properties
18.7 per cent and horticulture 7
per cent of all sales.
The lifestyle property market
saw a 16.2 per cent (237 sales)
increase in the three months to
April compared with April last
year. In the three months to April
this year 1696 sales were recorded
compared with 1459 sales in the
three months to April 2012.
Seven regions recorded
increases in lifestyle property
sales compared with the year
ended April 2012.
Auckland recorded the largest
increase (+156 sales), followed by
Waikato (+58 sales) and
Canterbury (+53 sales).
The national median price for
lifestyle blocks rose by $58,500
(12.7 per cent ) from $460,000 for
the three months to April 2012 to
$518,500 for the three months to
April 2013 to reach a new record
Activity in the lifestyle sector
remains solid across the country,
with Auckland, Waikato and
Canterbury being the most active
regions, Peacocke said.
In Canterbury demand was
strongest in the $600,000 to
$700,000 range with slower
activity at higher price points.
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