Farm sales ease in recent weeks
Fewer farm sales.
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If the patchy South Island drought is having any affect on farms sales it is dampening the market, based on latest Real Estate Institute figures.
There were 109 fewer farm sales (-19.3%) for the three months ended January 2015 than for the three months ended January 2014.
Overall, there were 455 farm sales in the three months to end of January 2015, compared with 486 farm sales for the three months ended December 2014 (-6.4%) and 564 farm sales for the three months to the end of January 2014.
In the year to January 2015 there were 1811 farms sold, 1% more than 2014.
The median price per hectare for all farms sold in the three months to January 2015 was $27,997 compared with $22,664 for three months ended January 2014 (+23.6%).
The median price per hectare fell 2.7% compared with December.
Dairy farm prices have eased.
For the three months ended January 2015 the median sales price per hectare for dairy farms was $40,742 (101 properties), compared with $41,227 (95 properties), for the three months ended December 2014.
The REINZ Dairy Farm Price Index fell by 8.6% in the three months to January compared with the three months to December, from 2157.6 to 1971.0, although it was still up on a year ago.
The REINZ Dairy Farm Price Index adjusts for differences in farm size and location compared to the median price per hectare, which does not adjust for these factors.
Chris Hutching
Thu, 19 Feb 2015
Thu, 19 Feb 2015
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Farm sales ease in recent weeks
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