Thursday, 21 January 2021 13:25

2020 property market closes on a healthy note

Written by  Staff Reporters
Farm sales went up once again in December 2020. Farm sales went up once again in December 2020.

Data release by the Real Estate Institute of New Zealand (REINZ) shows there were 175 more farm sales for the three months ending December 2020 than for the same period in 2019.

Overall, there were 520 farm sales in the three months ending December 2020, compared to 441 farm sales for the three months ending November 2020 (+17.9%), and 345 farm sales for the three months ended December 2019.

1,462 farms were sold in the year to December 2020, 15.6% more than were sold in the year to December 2019, with 26.2% more dairy farms, 9.6% less grazing farms, 32.0% more finishing farms, and 23.8% less arable farms sold over the same period.

The median price per hectare for all farms sold in the three months to December 2020 was $27,317 to $22, 981 recorded for three months ended December 2019 (+18.9%).

The median price per hectare decreased 1.6% compared to November 2020.

The REINZ All Farm Index increased 2.5% in the three months to December 2020 compared to the three months to November 2020.

Compared to the three months ending December 2019, the REINZ All Farm Price Index rose 1.4%.

Eleven of the 14 regions recorded an increase in the number of farm sales for the three months ending December 2020 compared to the three months ending December 2019, with the most notable being Waikato and Northland.

Otago recorded the only decline in sales.

Brian Peacocke, REINZ rural spokesman, says “Sales figures for the three month period ending 31 December 2020 reflect a further consolidation in the results which have been emerging in recent months, with dairy in particular achieving the strongest December since 2017.

“As is always the case, climate is the uncontrollable variable, so it was regretful that heavy rain and hail in the South Island in December caused flooding to pasture land and severe damage to horticultural crops in both the Central Otago and Nelson/Marlborough regions.

“The degree of damage was such that some growers and orchardists have lost a major portion of their income for the year which is most distressing for those involved,” Peacocke says.

“Of particular encouragement is the resilience of the dairy industry with current Global Dairy Trade Auctions being positive enough to encourage Fonterra to increase both its mid-season price and the forecast for the end of season payment – extremely positive for the dairy industry and for the overall economy.”

More like this

Finishing properties in hot demand

Data released by the Real Estate Institute of New Zealand (REINZ) shows an increase in farm sales for the three months ended July 2021 on the same period in 2020.

Farm sales rising

Sales figures for farm sales reveal an increasing confidence in the rural sector, says a spokesman for the Real Estate Institute of New Zealand (REINZ).

Rural market consolidates

Data released by the Real Estate Institute of New Zealand (REINZ) shows there were 129 more farm sales (+39.2%) for the three months ended February 2021 than for the three months ended February 2020.

A solid start to 2021

Data released by the Real Estate Institute of New Zealand (REINZ) shows there were 154 more farm sales for the three months ending January 2021 than for the same three months in the previous year.

National

Guy standing for Ravensdown

Former Agriculture Minister and Horowhenua dairy farmer Nathan Guy is standing for election to the Ravensdown board of directors.

Machinery & Products

Helps tame the wind!

Amazone's recently released WindControl System automatically monitors and adjusts the spreading pattern to compensate for the effect of the wind…

First Claas patent hits a century

While Claas has registered more than 3,000 patents during its 108-year history, the company is currently celebrating the 100th anniversary…

JD invests in robotics

Global giant Deere and Co has acquired Silicon Valley start-up company Bear Flag Robotics, which specialises in autonomous driving technologies…

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Too many hits?

OPINION: Well-known professional protestor, John Minto has run off at the mouth without checking his facts.

Good question!

A mate of the Hound's thinks it was more than a bit dodgy when DairyNZ chair Jim van der Poel…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter