After lagging behind the 2015 figures for most of the year, dairy property sales lifted late in 2016 to bring average sale values and volumes close to the previous year's levels.
Two Gordonton dairy farms, of 140 and 200 hectares, sold in December at prices touching $70,000 per hectare. Although this was a clear signal to the market, there was little immediate response.
Closer to home, interesting comparisons can be drawn between sales from the two local council districts over the last two years.
In 2015, there were 11 dairy farm sales in Waipa and nine in Otorohanga at average sale prices of $50,000 and $33,000 per hectare respectively.
In 2016, there were five in Waipa and 13 in Otorohanga and, while the average for Waipa was again around $50,000, for Otorohanga, it rose to $36,000 per hectare.