PGG Wrightson's GM for Rural Real Estate Peter Newbold. Photo / Supplied
PGG Wrightson's GM for Rural Real Estate Peter Newbold. Photo / Supplied
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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.
Mackay cracks into it, talking about Fonterra's recent activity and queried corporates investingback into farming.
Newbold confirmed and noted that the increase of corporate investment and even the addition of some individuals was seeing farming as a good place to invest.
Currently there was an increase of activity in the rural market and properties were selling well for this time of year. Newbold felt that there would be a strong run up until Christmas.
Mackay said that investing in farming had now becoming a yield story rather than a capital gains story, and there was no shortage of people looking to get out if they could get their money's worth.
Newbold agreed and added that there was a softening in the approach as far as money available to invest in rural and there was an increase of properties valued in the 7-12 million dollar bracket selling in the current market.
Property of the week: Great opportunity in Greta Valley
Greta-Vale is an outstanding, 791 hectare farming property situated at 833 Greta Road, Greta Valley and is being offered to the market for the first time in over 100 years.
It has long been regarded as one of North Canterbury's finest and most favourable farming properties.
