The rural property market remains buoyant, with 1716 farms sold over the 12 months to the end of May, up 52% compared to the previous 12 months, according to the Real Estate Institute of New Zealand.
The biggest increase was in sales of dairy farms which were up 124%, followed by dairy support blocks +78%, finishing farms +66%, and grazing farms +39%.
Arable farms were the only type to show an annual decline, with sales down 28%.
Prices were also firmer, with the REINZ All Farms Price Index, which adjusts for differences in the mix of farms sold by size, type and location, up 5.2% over the three months to the end of May compared to a year earlier.
The REINZ Dairy Farm Price Index, which adjusts for differences in the mix of sales by size and location, was up 16.5% over the same period.
"An increasing degree of confidence is emerging from within the rural sector," REINZ rural spokesman Brian Peacocke said.
"Driven by an optimistic outlook for the full range of product, the dairy sector is the major beneficiary of the upswing, with sales volumes well ahead of those relating to the equivalent periods of 2019 and 2020," he said.
The lifestyle block market was just as buoyant, with 10,396 lifestyle properties sold in the year to May, up 59% compared to the previous 12 months.
The interactive chart below shows the trend in farm sales by type since April 2007.
A more detailed monthly analysis is available here.
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