19 Feb 2014

Farm sales surge into new year.

3:03 pm on 19 February 2014

Farm sales have continued their surge into the new year.

The latest figures from the Real Estate Institute show 165 more farms were sold in the three months to the end of January, compared with the same period a year ago.

That's an increase of more than 40 percent.

For the year to the end of January, 1794 farms changed hands, an increase of more than 23 percent on the previous year and the highest number of sales in five years.

The price index covering all farm types also rose, by almost 9.6 percent on a year ago.

The institute's rural spokesperson Brian Peacock says most regions are seeing solid demand for dairy, dairy support and sheep and beef farms.

Demand for lifestyle blocks also remains strong, with the median price reaching a new high of $535,000.