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Farm sales in New Zealand booming except for dairy

Staff writer |
Dairy farms may be losing value but farm sales in other sectors of the rural economy are booming, says the Real Estate Institute.

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Its rural spokesman Brian Peacocke said dairy farm sales total only 16 to 20 percent of total farm sales each month, Radio New Zealand reports.

He said there was a strong degree of interest in other land uses, for example property sales in the sheep and beef sector were strong, the cropping and arable sectors were doing well and kiwifruit sector property sales were extremely strong and at record levels.

Mr Peacocke said there was also unsatisfied demand, particularly in the Marlborough area, for land suitable for planting grapes.

"On the sheep and beef side of it the prices have been quite stable with a degree of increasing on anything that's particularly good from a finishing perspective. And the inquiry for that type of property is coming from around the country."

Peacocke said they were also getting some offshore inquiries for beef farms. He said the lifestyle property market was also in very good heart, particularly in the major population areas of Auckland, Waikato, Bay of Plenty and Canterbury.

Peacocke said the value of lifestyle properties sold reached a new record of nearly $6.2 billion for the year to February.


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