26 Nov 2008

More sales of former forestry land

6:00 am on 26 November 2008

Large scale conversion of forestry land to dairy farming is continuing in the central North Island.

In what's described as one of the biggest corporate farming sales this year, Carter Holt Harvey is to sell nine newly-developed dairy farms in the Tokoroa area.

They cover 3500 hectares of former forestry land.

Bayleys Real Estate says the first six farms are to sold by tender in the next few weeks, with the remainder expected to sell next year.

Rural sales consultant Mike Fraser-Jones, saysdairy farm prices remain strong, but he expects the sales to reflect the cooling rural property market, as borrowing becomes more difficult.