Rural real estate ends on a high

Last updated 10:48 27/01/2014

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The national rural real estate market for December 2013 finished the year on a high note with 292 more farm sales (+20.1 per cent) for the three months ended December 2013 than for the three months ended December 2012.

Ten regions recorded increases in sales volume for the three months ended December 2013 compared with the three months ended December 2012.

Otago led the charge with the largest increase in sales (+32), followed by Southland (+30 sales) and Waikato (+25).

PGGWrightson South Canterbury real estate manager Susie Williams said December ended on a high note with a flurry of rural real estate activity.

"Most sales had a dairy influence although a mixed farm sold for $26,570ha and an area of bare land sold to an arable farmer for $25,625ha," she said.

"It would seem upwards $25,000ha is the new normal for good soil types without irrigation water but offering alternative farming options.

"This figure was well exceeded in the Hunter district with a large and superbly appointed farm also being sold to a local dairy farmer.

"North Otago and Mid Canterbury also had particularly strong months with the sale of existing dairies and arable land going to dairy support.

"Listings, while not in super abundance, include a very well regarded 344ha dairy farm at Waitohi with an additional 118ha lease block and 1215ha with two houses in the Hakataramea Valley.

"Autumn has always been a good time to go to the market so more property may be forthcoming."

According to Mrs Williams, leasing has become a significant trend. "This is something we are helping many farmers with," she said. "They [the farmers] are able to retain ownership of their land whilst in many cases staying in their homes and drawing significant passive income. The demand for dairy support continues unabated."

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- The Timaru Herald


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