The median price of lifestyle blocks is up 7.1% compared to a year ago but average farm prices are down 4.3%

There has been a jump in the number of farms and lifestyle blocks being sold, although average farm prices are lower than they were a year ago.

According the latest Real Estate Institute of New Zealand sales data, 386 farms were sold in the three months ended August, which was up 46% compared to the 265 farms sold in the same period of last year.

Sales were up on a year ago in 12 of the country's 14 regions, with only Bay of Plenty and Nelson recording declines.

However prices overall were down compared to a year ago, with the REINZ All Farm Price Index, which takes into account differences in the mix of farms sold by size, type and location, being down by 4.3% for the three months to the end of August compared to the same period of last year.

Prices were even weaker for dairy farms, with the REINZ Dairy Farm Price Index, which adjusts for differences in the mix of sales by size and location, down by 8.7% compared to a year ago.

REINZ rural spokesman Brian Peacocke said sales in the three months to August were the strongest they have been in four years.

Sales of lifestyle properties are also proving robust, with 2512 lifestyle blocks sold in the three months ending August, up 44% compared to the 1745 sold in the same period of last year.

Thirteen of the country's 14 regions recorded an increase in lifestyle block sales in the three months to August compared to the same period of last year, with Gisborne the only region to record a decline.

Prices of lifestyle properties were also stronger, with the national median price of $750,000 up 7.1% compared to the same period of last year.

See the interactive graphs below for the number of farms and lifestyle blocks sold every month in each region.

More detailed data on farm sales is available here.

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