A Gentle Winter a Variable Market

 

Data released by the Real Estate Institute of New Zealand (REINZ) shows there were 102 less farm sales (-25.7%} for the three months ended July 2019 than for the three months ended July 2018.

A Gentle Winter a Variable Market
 
19 Sep 2019

Overall, there were 295 farm sales in the three months ended July 2019, compared to 397 farm sales for the three months ended June 2019 {-8.4%), and 397 farm sales for the three months ended July 2018. 1,339 farms were sold in the year to July 2019, 9.0% fewer than were sold in the year to July 2018, with 38.4% less Dairy farms, 2.1 % more Grazing farms, 12.0% less Finishing farms and 16.0% less Arable farms sold over the same period.

The median price per hectare for all farms sold in the three months to July 2019 was $23,435 compared to $21,302 recorded for three months ended July 2018 (+10.0%). The median price per hectare increased 6.3% compared to June 2019.

The REINZ All Farm Price Index rose 1.4% in the three months to July 2019 compared to the three months to June 2019. Compared to July 2018 the REINZ All Farm Price Index rose 3.0%. 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.

Three of the 14 regions recorded an increase in the number of farm sales for the three months ended July 2019 compared to the three months ended July 2018 with the most notable being Nelson {+7). Manawatu­Wanganui recorded the most substantial decline in sales (-22 sales) followed by Waikato and Otago (-16 sales). Compared to the three months ended June 2019, five regions recorded an increase in sales with the biggest increase being in Nelson (+5 sales).

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