September 24, 2018
These details are drawn from the Real Estate Institute monthly reports for August 2018, and focus only on farm sales - excluding lifestyle blocks.
The market recorded 85 sales, which is 6.6% below the same month last year and 22.0% below the average August over the past four years.
The median price per hectare was $19,792 in August 2018, 7.1% lower than July, and 29.1% below August 2017.
Compared to August 2017, lower average prices applied across Arable, Dairy, Finishing and Grazing farms.
August 2018 sales included:
5 arable farms,
5 dairy farms,
24 finishing units,
5 forestry properties,
31 grazing properties,
14 horticultural farms,
1 special farms
The number of sales is presented here, without the average price, because average prices bounce around dramatically depending on the size and type of business unit being sold. However, the following table sets out the median prices per hectare over the past three months, as reported by REINZ.
|$/ha - August 2018||All||Arable||Dairy||Finishing||Forestry||Grazing||Hort||Special|
|Bay of Plenty||327,402||35,727||74,939||5,927||17,957||478,469|
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