22 Mar 2013

Kiwifruit properties selling in February

7:01 am on 22 March 2013

The latest farm sale statistics show the rural property market is steady with dairy farm sales easing slightly and grazing and finishing units holding at levels seen last year.

In the year ending February, more than 1400 farms were sold in New Zealand up more than 11% on the same period a year ago.

But Real Estate Institute spokesperson Brian Peacock says there is renewed interest in one sector some people might not expect.

He says several green kiwifruit orchards were sold in Bay of Plenty in February - in spite of the bacterial disease PSA.

Mr Peacock says the values seem to be coming back to a point where people are tempted to reconsider and looking at figures that may stack up even with the risk.

But Mr Peacock says there has been virtually no interest in the gold variety orchards.

He says the latest farm sale figures also illustrate some emerging trends in other industries.

Mr Peacock says there is a lack of sales of dairy support properties in Waikato, but that sector is getting quite good activity in the middle part of the South Island.

And he says there is an increasing level of activity for sheep and beef units in the Taranaki region where there have been some sales of about $700 per stock unit.