PGG Wrightson Real Estate GM, Peter Newbold. Photo / Supplied
PGG Wrightson Real Estate GM, Peter Newbold. Photo / Supplied
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The recent increase in buying property for forestry conversion is "moving forward too fast" for Peter Newbold's liking.
The PGG Wrightson Real Estate GM told The Country's Jamie Mackay that when it comes to converting large tracts of land, people shouldheed lessons from the past.
"If you go back in recent times and you look at what happened in dairy. I sense that's happening".
It's not only the past that buyers need to be mindful of said Newbold, who was concerned with the effect that forestry development could have in the years to come.
"I think we've just got to be careful we just don't overplay this and look back in 10 years time and go, woah - that was a little bit aggressive".
"There's too much good land I believe now being transferred to forestry".
Also in today's interview: Newbold takes a look at the rural property market which sees sheep and beef on a high, horticulture still going strong, a slow dairy market and a buoyant $6 billion lifestyle sector.
