[26 November/Rural Life]

Farm sales across the country for the year to October were down more than 10%, while dairy farm per hectare prices have pulled back almost 30% during the past year. Across the country for the year to October, 1475 farms were sold, a 10.5% decline on the previous year. Dairy farm sales were down 7.7%, grazing farms fell 5.6%, finishing was down 13.2% and there were 22.5% fewer arable farms. Arable, forestry and horticulture all recorded slight increases, albeit the latter saw a “distinct easing” in sales. It was noted that many farms came on the market in October, meaning potential purchasers would have unprecedented selection opportunities. Real Estate Institute of New Zealand rural spokesman Brian Peacocke said there was “solid activity” on finishing and grazing properties and interest in forestry around Otago.