Northland farm sales down

The $37,361/ha median price paid for three Northland finishing farms sold in the final quarter last year exceeded the $32,000/ha median for the 97 finishing farms averaging 42ha sold nationally over the same three months. The median price per hectare for finishing farms has risen 10.1 per cent over the past 12 months.

With 28 farm sales recorded for the three months ended December 2017, Northland was down 25 on its sales tally for the same time a year earlier.

Real Estate Institute of New Zealand (REINZ) figures showed the sales reduction affected 10 of the 14 regions around the country, with only Otago (-27 sales) having a bigger drop in farm sales than Northland for the end of year quarter.

And while most of the regions saw the median price of lifestyle blocks increase between the three months ending December 2016 and the three months ending December 2017, Northland was a notable exception with the price falling 8 per cent from $450,000 to $415,000 over the year.

As prices for the 229 Northland lifestyle block sales for the three months to December 2017 sagged, the median price for the 1826 sales around the country rose to $655,750 from $620,000 in November 2017 and $583,000 in December 2016.

Nationally, there were 394 farm sales in the three months ended December 2017, 105 fewer than the 499 sales for the same period a year earlier.

The 28 Northland farm sales for the three months to December 2017 consisted of three dairy, three finishing and 15 grazing farms along with five forestry blocks and two horticulture properties.

The three Northland dairy farms made a median sales price of $13,488/ha, down from $13,816/ha in November but topping the $13,305/ha median for the region's dairy farm sales in December 2016.

Nationally, the median price per hectare for the 79 dairy farms averaging 100ha sold for the three months ended December 2017 was $40,484, compared with $46,397/ha for sales a year earlier.

On a price per kilogram of milksolids basis the median national sales price was $36.67 kgMS for the three months ended December 2017, compared to $43.55 kgMS for the three months ended December 2016.

The three Northland finishing farms sold for the three months to December 2017 made $37,361/ha, substantially ahead of the November 2017 median of $28,740/ha and the $25,703/ha median for sales in December 2016.

The Northland price also exceeded the $32,000/ha median for the 97 finishing farms averaging 42ha sold nationally for the three months to December 2017, up from $29,061/ha for 134 finishing properties sold a year earlier. The median price per hectare for finishing farms has risen 10.1 per cent over the past 12 months.

The 15 Northland grazing farms sold for the three months to December 2017 made $10,862/ha, trailing $11,205/ha in November and $12,750/ha in December 2015.

The median sales price for the 110 grazing farms averaging 119ha sold nationally for the three months to December 2017 was $11,937/ha.The median price per hectare for grazing farms has increased 5.7 per cent over the past 12 months.

The two Northland horticulture properties sold for the three months to December 2017 averaged $174,613/ha, down from $244,582/ha for November sales and slightly down on the $176,206/ha median for sales in December 2016.

The median price for the 58 horticulture farms averaging eight hectares sold nationally for the three months ended December 2017 was $242,988, compared to $321,582/ha for November sales and $187,185/ha for 59 sales for the three months ended December 2016. The median price per hectare for horticulture farms has risen 29.8 per cent over the past 12 months.

The five Northland forestry blocks sold for the three months to December 2017 made a median price of $4676/ha, down from $8512/ha in November and $11,883/ha in December 2016.

The 16 forestry blocks sold nationally for December 2017 made $7713/ha, up on $6366/ha a year earlier but substantially down on the $12,357/ha median for sales in December 2015.