| Rural News |
The number of farm sales nationwide is starting to slow as winter sets in.
Figures released by the Real Estate Institute of New Zealand (REINZ) shows a 13.1 per cent drop in the number of farms sold between May and June 2012.
There were 406 farm sales in the three months to June 2012, compared with 467 in the three months to May 2012.
On seasonally adjusted figures, that’s a fall of 6.8 per cent.
REINZ rural spokesperson Brian Peacoke says demand for farms remains strong, despite the volatile nature of the commodities market.
He says demand for dairy farms remains strong, with many farmers selling their properties on the cusp of the new dairy season.
Overall, 1413 farms were sold in the year to June 2012, 47.2 per cent more than were sold 12 months earlier.
The median price per hectare for all farms sold in the three months to June was $17m565, a 12.8 per cent increase on the previous year.