Property report: Lifestyle market boom

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.

Lifestyle sections have overtaken rural sales as they have increased from approximately 6 billion to 9 billion dollars, Mackay said.

Newbold confirmed this and said he thought it would continue to increase over the next few years.

People were looking to invest their money as Covid-19 continued to place restrictions around travel, Mackay said. He asked if these people would look at investing in the rural market.

Newbold said he was seeing more first time and new investors.

"Dairy has been doldrums but yet it has near record returns at the moment, there is continued interest in horticulture, and sheep and beef keep chugging along," Mackay said.

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The seasonal spring and autumn listing periods were disappearing and the market as a whole was developing an annual approach, Newbold said.

Property of the week

Taumarunui Turnkey finishing and breeding

Very well presented 320 hectare (more or less) property just 6km east of Ohura and 10km south west of Matiere.

This is a very well balanced contoured farm. This is a finishing and breeding property that is a turnkey operation for the next owner. Not many boxes left unticked.

Find out more about this property here.