Property report: Rural market at its peak

PGG Wrightson's 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.

Newbold talked about how selling was strong and the value was good in the rural property market with great prices in all sectors.

The last rural property peak was around 2013-14.

The dairy property market had recently seen reluctant interest; however, the recent property boom had increased attention, particularly by the government sector.

Newbold added that the dairy properties were having their best season in a long time with people wanting to invest in the $10 million+ sector.

Sheep and beef properties continued to be prosperous, particular with steady interest from buyers and investors in metro areas.

Horticulture properties continued to be a kingpin in the market.

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Mackay observed the immense values that some of these properties were going for when they eventuated onto the market.

Newbold added that there were a number of quality orchards that help the market to move forward positively.

Newbold anticipated a surge of Aucklanders wanting to relocate into the rural sector once they were allowed to leave lockdown in December.

PGG property of the week

Property of the week is Lake Station.

For the first time in four generations, "Lake Station" is being offered for genuine sale and consists of 1009ha (2500 acres) in three titles.

Fronting onto the Buller River and with the magnificent St Arnaud Range as a backdrop, Lake Station is a truly remarkable grazing property.