Property report: The rural market boom

PGG Wrightson General Manager for Livestock and 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 Livestock and Rural Real Estate, Peter Newbold, to look at rural property this month.

Newbold was pleased to report the market was worth more now than it was this time a month ago.

He said PGG Wrightson Real Estate currently had more listings than they had ever had, which he put down to the quality of properties and the large number of enquiries.

There continued to be a strong interest in dairy, and Newbold anticipated a large number of transactions in the $15 million+ bracket.

Mackay commented on how the dairy industry had been "unfashionable" for the past four or so years, and how it had become popular again.

Newbold agreed, adding that while it was a wonderful industry, it could be hard to find workers.

Mackay asked about the sheep and beef market being driven by forestry, and raised a concern around the impact from carbon farmers overtaking pastoral land.

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Newbold added that maybe it had gone too far, but it was a critical part of New Zealand's economy.

Horticulture was holding strong, and Newbold anticipated a few listings to come through.

Meanwhile, the lifestyle market continued to entice new buyers.

Newbold commented on the large numbers of purchasers coming from the metropolitan areas, the limited number of listings, and the trend of auctions being pulled forward due to the demand.