Dairy and dairy support properties in Otago are attracting
strong interest, along with properties in Southland with
soils capable of sustainable wintering, Real Estate Institute
of New Zealand rural spokesman Brian Peacocke says.
REINZ data showed there were 82 more farm sales nationwide
for the three months to July than for the corresponding
period last year.
The median price per hectare for all farms sold in the three
month period was $20,667, an increase of 15.1% on the $17,955
recorded for the three-month period ended July 2012.
Ideal late winter and early spring conditions, combined with
solid payout predictions for primary produce, had raised
levels of confidence in the rural sector, Mr Peacocke said.
Demand for quality farms was strong across the country and,
in most regions, early signs indicated a shortage of supply
for the spring selling season, he said.
Calving activity had reduced sales of dairy farms in July,
but sales of finishing and grazing properties had remained at
''healthy levels'' in the top half of the North Island, as
well as in Canterbury, Otago and Southland. Sales for other
farm types had remained light, he said.
The lifestyle property market registered an 18.2% (or 276
sales) increase in volume in the three months to July,
compared to the same period last year.
Otago recorded the third-largest increase in sales compared
to July 2012 (up 25), and the largest increase in sales
compared to June 2013 (up 14).
Rising residential prices in the major cities were providing
Demand for lifestyle properties rose the most in rural
Auckland and Canterbury and demand in Waikato was also
rising, in response to higher Auckland house prices, Mr