However, he warned there were challenges ahead if the market carried on at this rate.
Mackay said the blame didn't lie with vendors or the real estate agents, as most people would sell to the highest bidder, given the chance.
He asked if there was an increased enthusiasm for investing in rural assets on a general level.
Newbold said there was and in fact, he hadn't seen it like this for a number of years.
Sheep and beef, dairy, grazing, cropping - in all areas, if a property came to the market, there was a good level of interest - and not just from within the industry, Newbold said.
A lot of people outside the rural industry saw it as a great place to invest and that was really good for rural New Zealand, he said.
Mackay mentioned a recent sale in mid-Canterbury where a grazing block sold for more per hectare than a dairy platform, simply because it had the wintering consents.
Newbold pointed out this was due to people looking to be able to manage all aspects of their property and the returns meant they could look at adding to their property portfolio.
Mackay asked whether there was a renewed interest in dairy farming.
Newbold said there had been more dairy operations coming onto the market at all price points, including a number of quality properties.
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A lot of this came back to people retiring and putting succession plans in place, he said.
The market for dairy farms was definitely looking strong, according to Newbold.
Mackay turned to anecdotal evidence and said he'd heard that a lot of farmers, who may not have the next generation coming through, don't want to face the environmental reforms and regulatory tidal wave that was coming.
He said these farmers were saying now was as good a time as ever to get out.
Newbold agreed and pointed out this shift was affecting people who work in rural New Zealand generally.
