Property report: The rural market is hot

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 take a look at the rural property market this month.

All rural sectors have gone gang-busters recently. Newbold says that he cannot recall a time that they have had this many properties on the market.

Newbold anticipates some rural property sales fall into the $10-15 million and over $15 million price brackets. The wider Canterbury region has also seen an increase of quality property sales.

Mackay discusses dairy milk prices and notes that we might see record milk prices this season.

Mackay queries about the sheep and beef properties.

Newbold notes that there are a lot of qualified buyers interested in this market and there are a large number of properties that are 400 hectares plus, located nationwide.

Buyers continue to come from larger metropolitan areas, particularly Auckland.

Mackay highlights the freedoms rural properties provide, especially with many Aucklanders stuck in lockdown.

Listen below:

Newbold anticipates another property boom for the rural market due to Covid-19 restrictions and notes that it is interesting to see people genuinely interested in investing in the rural property market.