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Farm sales were down in February 2022.
There were 36 fewer farm sales for the three months ended February 2022 than for the same period in 2021, according to data released by the Real Estate Institute of New Zealand (REINZ).
Overall, there were 426 farm sales in the three months ended February 2022, compared to 498 farm sales for the three months ended January 2022, down 12.4%, and 472 farm sales for the three months ended February 2021.
A total of 1,760 farms were sold in the year to February 2022, 148 more than were sold in the year to February 2021.
The median price per hectare for all farms sold in the three months to February 2022 was $30,130.
The REINZ All Farm Price Index increased 0.3% in the three months to February 2022 compared to the three months to January 2022.
The REINZ All Farm Price Index adjusts for differences in farm size, location, and farming type, unlike the median price per hectare, which does not adjust for these factors.
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It could be that buyers are hunting out the right farm to purchase as farm sales drop for the three months ended December 2023. That’s according to the Real Estate Institute of New Zealand (REINZ).
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