Your web browser (Internet Explorer) is out of date. Some things will not look right and things might not work properly. Please download an up-to-date and free browser from here.

Mild winter pushes property prices up

The rural property market has been heating up, with prices rising as quickly as the grass in some regions.

A mild start to winter has meant farmer confidence is on the up, along with property prices, as many look to buy while most are reluctant to sell.

Rural figures from the Real Estate Institute show farm sales up nearly 25 percent in the last quarter, an increase of more than 80 properties bought and sold.

Brian Peacocke from Pastoral Realty says the weather and current high product prices are making farming especially attractive right now, and so the market is out of balance.

“This mixture of the weather and the fact that there’s been an increase in the product prices, whether the Fonterra payout or the prospects for beef and lamb, they’re all looking pretty reasonable.

“That’s all adding up to the fact that there is just a very good strong environment currently.”

Lifestyle blocks are also trending upwards, both in sales and per hectare price, which Brian Peacocke says is no surprise.

For more information on rural property prices, and sales figures, head to the REINZ website, here.

– Weatherwatch and Country TV


Related Articles