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REINZ report a 56.4% rise in farm sales for the period ending November 2020.
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.
Buoyed by strong forecasts for milk prices and a renewed demand for dairy assets, the South Island rural real estate market has begun the year with positive momentum, according to Colliers.
Farm sales are on the rise. According to recent data from the Real Estate Institute of New Zealand (REINZ), there was an 18.9% increase in farm sales for the three months ending August 2024 compared to the same period in 2023.
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).
Recently released data from the Real Estate Institute of New Zealand (REINZ) shows there were 77 fewer farm sales for the three months ended November 2023 than for the three months ended November 2022.
Recent data from the Real Estate Institute of New Zealand (REINZ) shows October was another month in which there were fewer farm sales than at the same time in 2022.
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