Farms sold in New Zealand

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
                 
New Zealand 27,121 35,922 28,555 32,969 7,452 11,335 198,768 51,605
                 
Northland 16,338 26,459 16,727 30,328 30,984 10,540 231,432  
Auckland 37,790   28,555 37,790   11,534 198,768 106,394
Waikato 44,584   44,441 65,152 5,303 16,935 465,886  
Bay of Plenty 300,578 52,488   41,916   23,120 401,744  
Gisborne 89,694 49,370       4,358 127,162 73,199
Hawkes Bay 28,164 58,047   28,164   10,611 52,500  
Taranaki 17,989     38,824 4,369 4,710    
Wang/Manawatu 25,695 51,268 18,433 43,538 13,128 5,517 67,101  
Wellington 24,203     32,486 18,414 9,611   7,383
                 
Nelson 35,479     34,840 6,290 12,780 170,628  
West Coast 13,629   22,368     4,890    
Canterbury 25,783 37,647   31,987 4,615 10,917 86,926 30,010
Otago 12,829 20,137   26,466 8,391 11,326    
Southland 19,975 24,007 33,198 27,184   9,960 35,558  

You can find current farms for sale and listed on the market here.

for more perspectives, see

- Exchange rates
- Commodity prices
- Farm cost indexes
- Interest rate trends
- Rural credit aggregates
- Farm sales activity
- Farms for sale
- International dairy prices

Farm sales

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