Twelve Northland farms were sold in the three months to October 31, 11 fewer than in the same period last year.
A Real Estate Institute of NZ (REINZ) report shows the properties sold consisted of two dairy farms, a finishing farm, eight grazing blocks and an orchard. The dairy farms, with a median size of 184 hectares, fetched a median price of $13,167/ha, up on the $9288/ha median a month earlier, but down on the $16,497/ha median paid for Northland dairy farms in October 2010.
The 17ha finishing farm sold for $48,744/ha and the 35ha orchard went for $10,537/ha.
The eight grazing blocks had a median size of 76ha and their median sales price was $4973/ha, down on the $10,605/ha median for similar farmland sold in the same period last year and the $8500/ha median for October 2010.
Nationally, there were 256 farm sales in the three months to October, compared with 269 in the three months to September, 1410 farms were sold in the year to October 31, or 28.6 per cent more than in the previous year.