Ru­ral prop­er­ties show steady rise

Matamata Chronicle - - Property -

De­mand for qual­ity ru­ral prop­er­ties is out­strip­ping sup­ply, the Real Es­tate In­sti­tute of NZ says.

Ru­ral mar­ket spokesman Brian Pea­cocke said north­ern parts of the coun­try are see­ing higher lev­els of ac­tiv­ity on sheep and beef prop­er­ties, while in the South Is­land the spot­light re­mains firmly on dairy.

‘‘De­mand for dairy sup­port units is solid in the Can­ter­bury re­gion but due to dry weather is soft in the Waikato,’’ Mr Pea­cocke said.

Higher de­mand and a short­age of qual­ity list­ings was ex­pected to con­tinue for the next few months.

The lat­est REINZ ru­ral sales report shows Waikato is one of seven re­gions with more farms sold in the three months to the end of Jan­uary com­pared with the same pe­riod last year.

Farm sales in Waikato reached 67 – up 34 per cent on the same pe­riod last year.

Na­tion­wide, farm sales in­creased 13 per cent, with 399 farms sold in the three months ended Jan­uary.

Graz­ing prop­er­ties ac­counted for most of the sales, fol­lowed by dairy, fin- ish­ing prop­er­ties then hor­ti­cul­ture prop­er­ties.

The me­dian price per hectare for all farms sold in the three months to Jan­uary was $23,980 – up 18.1 per cent on $ 20,299 for the same pe­riod last year. The REINZ All Farm Price In­dex eased by 3.2 per cent to 3039.77 in the three months to Jan­uary com­pared with the same pe­riod last year.

The in­dex is de­signed to pro­vide a more ac­cu­rate mea­sure of farm price move­ments.

For life­style prop­er­ties, Mr Pea­cocke said ac­tiv­ity re­mained steady across the North Is­land, ex­cept Auck­land which had strong ac­tiv­ity.

Life­style prop­erty sales in­creased 22.2 per cent na­tion­ally – up 273 sales to 1504 sales – in the three months to Jan­uary com­pared with the same pe­riod last year.

Ten re­gions recorded in­creases, in­clud­ing Waikato which was up 38 sales or 24.5 per cent to 193 sales in the three months ended Jan­uary. The na­tional me­dian price for life­style blocks rose by 6.1 per cent or $28,500 to reach a record high of $ 498,500 for the three months to Jan­uary.

Sales: The lat­est REINZ ru­ral sales report shows Waikato is one of seven re­gions with more farms sold in the three months ended Jan­uary com­pared with the same pe­riod last year.

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