November 21, 2018
These details are drawn from the Real Estate Institute monthly reports for October 2018, and focus only on farm sales - excluding lifestyle blocks.
The market recorded 100 sales, which is 8.2% below the same month last year and 17.6% above the average October over the past four years.
The median price per hectare was $27,121 in October 2018, 6.6% higher than September, and 8.6% above October 2017.
Compared to October 2017, lower average prices applied across Arable, Dairy, Grazing and Horticulture farms.
October 2018 sales included:
6 arable farms,
3 dairy farms,
32 finishing units,
7 forestry properties,
37 grazing properties,
13 horticultural farms,
2 special farms
The number of sales is presented here, without the average price, because average prices bounce around dramatically depending on the size and type of business unit being sold. However, the following table sets out the median prices per hectare over the past three months, as reported by REINZ.
|$/ha - October 2018||All||Arable||Dairy||Finishing||Forestry||Grazing||Hort||Special|
|Bay of Plenty||300,578||52,488||41,916||23,120||401,744|
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