Farm sales fell 21 per cent in the December quarter from a year earlier, although prices held up as increasingly expensive horticulture properties offset cheaper dairy farms, according to the Real Estate Institute.

The GM of PGG Wrightson Real Estate Peter Newbold spoke to The Country about why horticulture properties are in great demand and dairy farms less so.

Lending constraints from the banks, uncertainty on values (especially on dairy farms), the impact the dairy industry has had on support blocks and the weather are all factors which have affected the market says Peter.

Also in today's interview Peter comments on foreign ownership and looks at a growing interest in sheep and beef properties.


Listen below: