Content brought to you by PGG Wrightson Real Estate.
The Country's Jamie Mackay is joined by PGG Wrightson's General Manager for Rural Real Estate Peter Newbold, to take a look at the rural property market this month.
There had been an increase in interest around rural properties. Newbold put it down to low interest rates and, from an investment perspective, property had been always been safe.
"If you buy it right then you'll get a good return ... the lifestyle is something we all enjoy."
For the first time in four to five years all sectors in rural were moving forward. In addition, traditional selling periods were changing.
The dairy industry had stalled recently, however, as Newbold pointed out, some dairy farms had sold where the vendor had provided a good price with a fair return.
Mackay asked about a story he'd read on Stan Robb "The Kiwifruit King" in the Bay of Plenty, who had recently sold one hectare of gold kiwifruit, (which included the fruit), for $1.4 million.
Newbold confirmed, adding that some were getting returns of up to 15 per cent.
Mackay brought up the shift in people's lifestyles due to Covid-19.
Newbold added that people wanted space and didn't want to be cooped up in metropolitan areas.
"Kautuku" is a multi-purpose farming business on the doorstep of Hastings. Situated some 10 kilometres west of Hastings, this 420 hectare property has it all. The options here are endless and the current owners of thirty plus years are handing it on in great heart.
Find out more here.