19 Nov 2012

Farm sales well up for year so far

4:20 pm on 19 November 2012

The Real Estate Institute says farm sales so far this year are up almost 30% on last year.

Rural market spokesperson Brian Peacocke says in the year to October more than 1400 sheep and beef, dairy, cropping and horticultural properties were sold.

He says that's a substantial increase in sales compared with 2011, despite the fact that sales between August and the end of October were down more than 10% on last year.

Mr Peacocke say that's more of a reflection of the timing of sales in early spring than an indication of a downturn in demand.

The per hectare median price for all farms sold in that three month period rose by 10%.

Mr Peacocke says of the 256 farms sold in the past three months, half were grazing properties. Dairy farms only made up 5% of the sales.