Friday, July 8, 2022

Dairy leads rise in sales

Farm sales rose 8% in the December quarter, led by a strong interest in dairy properties. The number of farms sold rose to 382 in the three months ended December 31, from 353 sales in the same period a year earlier, according to the Real Estate Institute of New Zealand.

The medium price/ha for all farms sold rose 12.8% to $23,070.

“In the North Island we have seen an increase in activity from sharemilkers, particularly in Northland and Taranaki, and more activity in Waikato focused on dairy properties and dairy support units,” Brian Peacocke, rural market spokesperson for REINZ, said.

“In the South Island there has been more interest and activity in finishing units and medium sized dairy farms in Southland, while in Canterbury there has been very good activity in arable farms, dairy and finishing units.”

The number of dairy farms sold rose to 63 in the December quarter compared to 50 in the same period a year earlier.

Despite increased interest in dairy properties in Northland, Waikato, Taranaki, Canterbury and Southland the median price/ha fell to $34,483 from $37,045 in the December 2011 quarter.

The median farm size was 89ha and the median production/ha across all dairy farms sold in December quarter was 945kg milk solids (MS), REINZ said.

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