“I think we’re going to see good sales and good interest as we move into the spring months.”
Newbold said conditions were looking positive for the future as well, in terms of interest rates and returns.
“When you add returns and then you add in that interest rate piece, and let’s hope inflation stays where it is, I think we’re in a good space looking forward over the next couple of years.
“So that’s really exciting for the country.”
The $10 payout had demand up for dairy properties, but stock numbers could cause problems, Newbold said.
“The biggest challenge is, coming into those winter months, there’s not enough stock, so that’s something everyone needs to think about.
“Things are looking good in dairy; we just need more stock.”
Newbold said now was the time to buy in dairy, and had advice for those on the fence about selling up.
“People tend to [say] let’s hang on, let’s bank it, but when there’s demand out there, it’s probably a good time to look at moving on.”
Despite calving challenges, he reckoned several dairy properties would come to the market in spring, which was earlier than usual.
Listen below:
Meanwhile, renewed profitability in the sheep and beef sectors had positively affected the property market, but the spectre of carbon farming conversions loomed.
“I actually think the horse has bolted in this space,” Newbold said.
It wasn’t all bad news, though.
“When you look at the sheep and beef price at the moment, they’re at extraordinarily high levels.
“There’s strong sentiment out there, and the sheep and beef property sales have turned the corner.”
Newbold said there was a lot of interest in “traditional heartland areas” such as Otago, King Country, Wairarapa and Hawke’s Bay.
“We are seeing those properties now moving, and we’re seeing a lot more interest in that space.
Newbold said this meant farmers who had been struggling in the last couple of years could move forward positively.
“Especially those ones who want to sell and move on.”
As for carbon farming, Newbold reckoned it would eventually even out.
“I have a sense it’s going to slow, and I think it’ll be more control moving forward.”
On to horticulture, where an interest in kiwifruit had bolstered the property market.
“That market is starting to move,” Newbold said.
“There’s a renewed confidence there, returns are good.
“So, we’re going to see more activity in that coming into the spring.”
If you’re thinking about your next move, now could be the right time to act.
With renewed confidence across dairy, sheep and beef, and horticulture sectors, it’s worth checking in with your local PGG Wrightson Real Estate expert for a free, no-obligation appraisal.
Visit pggwre.co.nz to learn more.
