[25 September/Rural Life]

Otago farm sales increased over the last three months, however the national sales market was down 18 percent overall compared to the previous July. In the three months to August, there were 323 farm sales which was down 18.6 percent on sales recorded in the three months to July. According to Real Estate Institute of New Zealand data, Otago, Southland and Manawatu were the top three regions who made gains on sales. REINZ Spokesman, Brian Peacocke, said the period to August was reasonably consistent compared to a year ago, but was well down on the same period in 2016. He added heavy snowfall caused disruption to farming activities in the South Island. The median price per hectare across all farms was down 29 percent on the same period last year.