June 20, 2018
These details are drawn from the Real Estate Institute monthly reports for May 2018, and focus only on farm sales - excluding lifestyle blocks.
The market recorded 159 sales, which is 7.6% below the same month last year and 14.5% below the average May over the past four years.
The median price per hectare was $26,219 in May 2018, 4.0% lower than April, and 3.6% below May 2017.
Compared to May 2017, lower average prices applied across Grazing farms.
May 2018 sales included:
12 arable farms,
20 dairy farms,
58 finishing units,
4 forestry properties,
45 grazing properties,
19 horticultural farms,
1 special farms
The number of sales is presented here, without the average price, because average prices bounce around dramatically depending on the size and type of business unit being sold. However, the following table sets out the median prices per hectare over the past three months, as reported by REINZ.
|$/ha - May 2018||All||Arable||Dairy||Finishing||Forestry||Grazing||Hort||Special|
|Bay of Plenty||107,885||45,458||37,295||44,793||15,953||466,691|
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