Only seven dairy farms sold in the month of January, which
the Real Estate Institute of New Zealand (Reinz) described as
alarming.
The month is normally a prime time for selling dairy farms.
"There is confidence amongst buyers in the rural sector and a
lot of interest in farms but there appears to be a distinct
lack of confidence from lenders," Reinz president Peter
McDonald said.
Overall, the rural property market continued to dip in
January.
The total number of farms sold in the three months to January
2010 was 208, down from 305 in the same period the previous
year and 732 in the three months to January 2008.
There were 33 dairy farms sold in the three months to
January, down from 40 in the same period last year.
The greatest number of farm sales during the three months to
December was recorded in Waikato with 26 sales, followed by
Manawatu and Wanganui with 24 sales recorded.
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