23 Jan 2012

Farm sales continue to increase

6:49 am on 23 January 2012

The Canterbury region is leading the way in farm sales as the rural property market continues to pick up.

Latest figures from the Real Estate Institute show 140 more farms were sold in the three months ending in December, compared with the same period the previous year. That's a 65% increase.

The biggest increase was in Canterbury, which has been topping the lift in farm sales since October.

However, the average overall farm price has eased, with a median price of $20,445 per hectare, down by $3230 a year ago.

The institute says the demand for top quality dairy properties is outstripping supply, but there's also strong sales growth for finishing and grazing farms.

Demand for lifestyle blocks is also picking up again, after being quiet for some time.