Volumes decline, values hold steady
Recently released data from the Real Estate Institute of New Zealand (REINZ) shows there were 224 fewer farm sales (-48.6%) for the three months ended April 2023, compared to the same period last year.
THE REAL Estate Institute of New Zealand's dairy farm price index is up 34.4% year on year, figures released for the three months ending October show.
Median price per hectare was $43,299 across 23 dairy properties sold compared to $32,701 and 37 properties for the three months ended October 2013. Median area this year was 97ha and production 1,062kgMS/ha.
Compared to the three months ending September, when the median was $40,462 across 20 properties, October's index was up 7.3%. The index adjusts for differences in farm size and location, whereas median prices do not.
"Sales figures for the three month period ending October reflect an awakening market, with a strong build-up moving into spring", says REINZ rural spokesman Brian Peacocke.
"A large number of properties throughout the North Island have been marketed during October, but with unconditional dates after the end of the month the results will not be known until the November data is available," he says.
"Feedback from around the country indicates strong buyer enquiry, careful due diligence being undertaken by purchases and a market fully firm on last season."
China’s Ambassador Wang Xiaolong says bilateral economic and trade cooperation between China and New Zealand has made significant and rapid progress.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.