Farms sold in New Zealand

June 21, 2019

These details are drawn from the Real Estate Institute monthly reports for May 2019, and focus only on farm sales - excluding lifestyle blocks.

The market recorded 126 sales, which is -20.8% below the same month last year and -27.0% below the average May over the past four years.

The median price per hectare was $22,244 in May 2019, -3.2% lower than April, and -15.2% below May 2018.

Compared to May 2018, lower average prices applied across Arable, Dairy and Grazing farms.

May 2019 sales included:
3 arable farms,
14 dairy farms,
33 finishing units,
3 forestry properties,
51 grazing properties,
18 horticultural farms,
4 special farms

The number of sales is presented here, without the average price, because average prices bounce around dramatically depending on the size and type of business unit being sold. However, the following table sets out the median prices per hectare over the past three months, as reported by REINZ.

$/ha - May 2019	All	Arable	Dairy	Finishing	Forestry	Grazing	Hort	Special

New Zealand	22,244	24,981	31,248	30,908	16,063	10,572	281,384	23,775

Northland	17,097	27,622	14,696	26,000		12,132	352,402	35,830
Auckland	42,722	27,587	23,521	51,746		15,405	651,578	53,911
Waikato	34,660	67,028	38,762	40,883		10,922	295,992	18,788
Bay of Plenty	305,303	108,733	47,887	20,650	24,810	14,597	417,500
Gisborne	129,199					8,737	178,270
Hawkes Bay	11,139	4,353		21,271		9,600	135,995
Taranaki	28,958		33,206	56,792	22,385	5,669
Wang/Manawatu	14,599	11,081	10,033	25,091		7,802		7,707
Wellington	14,038	23,989	36,923	22,500	25,274	11,622		26,990
Nelson	26,682	2,762	31,199	38,019	16,063	10,335	131,106
West Coast
Canterbury	21,948	31,415	30,823	29,443	3,843	13,709		21,639
Otago	17,052		13,536	31,246	4,183	9,273		20,154
Southland	18,528	7,842	28,443	22,397	13,921	7,857		23,775

You can find current farms for sale and listed on the market here.

for more perspectives, see

- Exchange rates
- Commodity prices
- Farm cost indexes
- Interest rate trends
- Rural credit aggregates
- Farm sales activity
- Farms for sale
- International dairy prices

Farm sales

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Source: REINZ