Tuesday 15th November 2011 2 Comments
|Text too small?|
New Zealand farm sales nearly doubled in the three months ended October 2011, compared with a year earlier, according to the Real Estate Institute of NZ (REINZ).
The number of sales jumped 94.6 percent compared to the same period a year ago, with 286 properties sold. However, the median average price only increased 6.7 percent to $18,878.
REINZ spokesperson Brian Peacocke said nine regions recorded an increase in sales volumes, including Canterbury, Auckland and Nelson, while Manawatu, Wanganui experienced a 3 percent drop in sales.
"The rise in the number of sales in the three months to October reflects the large number of properties currently being marketed for sales and a general mood of cautious optimism despite current economic challenges internationally."
Grazing properties accounted for the largest number of sales with a 58.7 percent share of sales over the three months, horticulture properties accounted for 7.7 percent and diary properties, 5.9 percent.
Peacocke said the recent reduction in Fonterra's forecast payout impacted the diary sector but this was offset by the best spring growth conditions seen in years.
The lifestyle property market also eased 5.1 percent, with Auckland recording the largest fall followed by Bay of Plenty and Taranaki.
18th October 2021 Morning Report
T&G Global Limited (NZX: TGG) FY21 Earnings Guidance Update
Arvida Group Limited (NZX: ARV) Successful Completion of $155m Placement
FreshLeaf: Cannabis on course to be 'medicine of the masses'
Arvida Group Limited (NZX: ARV) to Acquire Arena Living Retirement Living Portfolio
My Food Bag Group Limited (NZX: MFB) Market Update and HY Results Announcement Date
Harmoney Corp Limited (NZX: HMY) Delivers Record September Quarter
Vital Healthcare Property Trust (NZX: VHP) Announces Successful Completion of $115m Placement
14th October 2021 Morning Report
General Capital Limited (NZX: GEN) Completes Greenfern Listing