A record national median price for lifestyle blocks of $552,500 was set in the three months ending April.
Figures released by the Real Estate Institute of New Zealand yesterday showed the median price was up 8.3%, or $42,500, compared to the corresponding three-month period last year.
There was also a 13.7% lift in sales volume, up 233 sales to 1940.
While it was a ''difficult'' market at the top end in Otago-Southland, there was good inquiry in the region at entry to mid-level lifestyle properties, with notably strong activity in the Wanaka/Cromwell/Lakes district areas, spokesman Brian Peacocke said.
There were 485 farm sales nationally in the three-month period, 13 fewer than last year, but the median price per hectare was up 16.7% to $28,668.
In contrast to the discussions relating to the reduction in the dairy payout, beef prices remained strong and good properties continued to sell at values deemed ''fully firm'', Mr Peacocke said.
Large areas were experiencing excellent autumn growing conditions, but drought prevailed in some areas, including parts of Canterbury, he said.
Grazing properties accounted for the largest number of sales with 39.6% of all sales over the period, followed by dairy properties at 20%.
In Otago there were 39 properties sold, the majority grazing properties, and 30 farms in Southland.
Good well-located properties throughout Otago and Southland sold well, with lesser quality and outlying farms having trouble attracting inquiry unless vendor price expectations matched the market, he said.
