15 Feb 2011

Median farm sale price up

3:28 pm on 15 February 2011

The median price for a farm rose by 13.5% in the three months to the end of January, compared with a year ago.

Latest rural market statistics from Real Estate Institute of New Zealand show the national median farm sale price increased to $1.13 million, from $1 million in the quarter.

A total 219 farms were sold, an increase on the 208 in the same period a year ago.

The REINZ says there have been some strong sales over the past couple of months in all classes and categories of rural properties, because banks are starting to ease their lending criteria.