Buyers hunting for right farm
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).
Data released by the Real Estate Institute of New Zealand (REINZ) shows a 56.4% rise in the number of farm sales for the three month-period ending November 2020.
Overall, there were 441 farm sales in those three months, compared to 282 farm sales for the same period in 2019.
1,412 farms were sold in the year to November 2020, 9.0% more than were sold in the year to November 2019.
The median price per hectare for all farms sold in the three months to November 2020 was $27,763 compared to $25,190 recorded for the three months ending November 2019.
The REINZ All Farm Price Index fell 1.3% compared to the three months ending November 2019.
Eleven of the 14 regions recorded an increase in the number of farm sales for the three months ended November 2020 compared to the three months ending November 2019, with the most notable being Waikato and Northland.
Otago recorded the most significant decline in sales with Wellington and Gisborne also recording fewer farm sales than 2019.
“Sales data for the three-month period ending November 2020 confirms again that in terms of numbers, finishing properties are clearly the dominant category,” said Brian Peacocke, REINZ rural spokesman.
“The increase in sales volumes throughout the rural sector would indicate the banking sector is beginning to emerge from the deep freeze.”
Finishing farms accounted for the largest number of sales with a 34% share of all sales over the three months to November 2020.
Grazing farms accounted for 26%, Dairy accounted for 10%, and Horticulture accounted for 13% of all sales.
Federated Farmers claims that the Otago Regional Council is charging ahead unnecessarily with piling more regulation on rural communities.
Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.
OPINION: We have good friends from way back who had lived in one of our major cities for many years.
Listed Canterbury milk processor Synlait’s shares have been placed in a trading halt.
OPINION: Even before the National-led coalition came into power, India was very much at the fore of its trade agenda.
A step-by-step guide helping farmers through the process of creating a Freshwater Farm Plan (FWFP) has been launched by FarmIQ.
OPINION: A mate of yours truly wants to know why the beef schedule differential is now more than 45-50 cents…
OPINION: Your canine crusader understands that MPI were recently in front of the Parliamentary Primary Sector Select Committee for an…