A surge in lifestyle property sales over the past three
months typified a strong end to spring for New Zealand's
rural property market, according to latest figures.
A total of 281 farms were sold across the country in the
three months to the end of November, 9.8 per cent more than
the previous three-month period.
The Real Estate Institute of NZ (REINZ) data also showed 1516
lifestyle properties were sold, 24 per cent more than in the
same period last year and 10 per cent more than in the three
months to October.
Lifestyle farm sales last month were the strongest for a
November since 2007.
Compared to October, Auckland recorded the largest increase
(+30 sales), followed by Canterbury (+22) and Northland
Things were looking solid and "reasonably optimistic" in the
lifestyle market, said REINZ spokesman Brian Peacocke.
"The lifestyle market has seen a healthy increase in sales
volume in November, with strong activity in Auckland and
increasing activity in Waikato driven partially by buyer
enquiry from Auckland and Australia.
"The Nelson and Marlborough regions have also seen a healthy
increase in listings, and the Canterbury market remains
REINZ's All Farm Price Index rose from 2852.46 to 3069.52
(+7.6 per cent) in the three months. The index was 5.4 per
cent higher compared to November last year.
"The rural property market has had a strong finish to the
spring selling season," Peacocke said.
"Several regions report the strongest level of activity in
2007, with a strong increase in the Far North, increased
horticulture sales in Gisborne and strong demand for
viticulture properties in Marlborough."
Overall farm sales - which do not include lifestyle blocks -
in the three months were down (-10.8 per cent) compared to
the same period last year.
On an annual basis, 1417 farms sold in the year to November
was 23.4 per cent up on the year to November 2011.
The median price per hectare for all farms was $22,885, up
15.2 per cent on the previous three months and 11.9 per cent
on November last year.
First farm buyers, particularly sharemilkers, were actively
pursuing properties in Waikato and Taranaki, Peacocke said.
"Much of this activity is being stimulated by vendors being
realistic about pricing and low interest rates on borrowing."
Seven regions recorded increases in sales volumes for the
three months, led by Auckland with more 12 sales, and Nelson
with six more.
-By Ben Chapman-Smith of nzherald.co.nz