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.
The comment stream on this story is now closed.
Farm sales
Select chart tabs
Lifestyle blocks sold - REINZ
Select chart tabs
6 Comments
Parker is not going to help with his stupid plan, unbelievable how they come up with such a plan without consulting. And cause more uncertainty. Shows how business minded this government is.
Lifestyle Block "national median price of $750,000"
Is that price bare land only, or land plus dwelling, or a mixture
Impossible to say, without size and development info it's anyone's guess. I've seen a glorified large section (1acre) marketed as a "lifestyle block" I have a 1.4ha paddock that's valued (RV) at $298K, and an adjoining 13.5ha block with house(~150sm), 3 bay implement shed, cattle yards with RV of $850K.
It's like the national median house price info - no relation to actual value without context
LSB's (Life Sentence Blocks) do offer instant social distancing, generally are commutable to population centres when the need arises, and may even support a vegie garden along with the mandatory Ponies and Thistles. The jump in both sales and median prices is a natural reaction to the botched serial-lockdown approach currently in vogue (at least until October 18th).
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.