Rural property sales still positive in region
The sold signs continue to appear across the Waikato rural property market despite fears about the fall in dairy payout prices.
Several recent dairy farm sales around the region suggest the rural market remains positive heading into Christmas, bucking speculation that interest would decline.
This was highlighted with the auction of a 60-hectare farm near Morrinsville for $5.8 million, or $96,700 per hectare. The sale of the Tatua-supplying farm included 83,723 in shares and 79,723 in milk supply entitlements.
The sale made a premium because it was a Tatua supplier, PGG Wrightson agent Peter Lissington said.
The rest of the market was reasonably strong for well-located farms with good infrastructure and soil types.
‘‘This is good news for the industry,’’ he said.
Lissington would not divulge the buyer, but confirmed it was a fellow Tatua farmer.