Fewer farms and lifestyle blocks being sold - REINZ

There has been a substantial downturn in the number of farms and lifestyle properties being sold, according to the latest figures from the Real Estate Institute of New Zealand.

These show that 396 farms were sold in the three months to the end of January, down 24% compared to the same period 12 months earlier.

But the decline in sales was mainly for finishing (-32%), arable (-40%) and grazing properties (-26%), while sales of dairy farms were almost flat compared to 12 months earlier.

However the reverse was true for prices, with the REINZ All Farm Price Index, which adjusts for differences in farm type, size and location, was up 5.8% in the three months to January compared to the same period a year earlier.

Conversely, the REINZ Dairy Farm Price Index was down 8.9% compared to a year earlier.

"Widespread rain during January has alleviated the feed supply situation throughout much of the country, however parts of Otago and Southland were among those areas less fortunate," REINZ rural spokesman Brain Peacocke said.

"Whilst the benefit has been widespread, the market remains relatively constrained, particularly in the dairy sector," he said.

Sales of lifestyle blocks were also lower, with 1722 sold in the three months to January, down 5.5% compared to the three months ended January last year.

However, the median price of all lifestyle blocks sold in the three months to January this year was up 12.7% compared to a year earlier.

"Sales figures for the three month period ending January 2018 confirm the easing trend that has emerged in recent months," Peacocke said.

Also see this price/ha data.

Farm sales

Select chart tabs »
The 'New Zealand' chart will be drawn here.
Loading...
New Zealand
Source: REINZ
The 'Northland' chart will be drawn here.
Loading...
Northland
Source: REINZ
The 'Auckland' chart will be drawn here.
Loading...
Auckland
Source: REINZ
The 'Waikato' chart will be drawn here.
Loading...
Waikato
Source: REINZ
The 'Bay of Plenty' chart will be drawn here.
Loading...
Bay of Plenty
Source: REINZ
The 'Gisborne' chart will be drawn here.
Loading...
Gisborne
Source: REINZ
The 'Hawkes Bay' chart will be drawn here.
Loading...
Hawkes Bay
Source: REINZ
The 'Taranaki' chart will be drawn here.
Loading...
Taranaki
Source: REINZ
The 'Manawatu Wanganui' chart will be drawn here.
Loading...
Manawatu Wanganui
Source: REINZ
The 'Wellington' chart will be drawn here.
Loading...
Wellington
Source: REINZ
The 'Nelson Marlborough' chart will be drawn here.
Loading...
Nelson Marlborough
Source: REINZ
The 'West Coast' chart will be drawn here.
Loading...
West Coast
Source: REINZ
The 'Canterbury' chart will be drawn here.
Loading...
Canterbury
Source: REINZ
The 'Otago' chart will be drawn here.
Loading...
Otago
Source: REINZ
The 'Southland' chart will be drawn here.
Loading...
Southland
Source: REINZ

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment or click on the "Register" link below a 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.