The 12 Northland grazing farms sold for the three months ended March 31 fetched a median price of $9462/ha, while the national median sales price per hectare for grazing farms was $10,682. The median price per hectare for grazing farms has fallen 34.1 per cent over the past 12 months.


REAL Estate Institute of New Zealand (REINZ) data shows there were 50 fewer farm sales for the three months ended March 2018 than for the same period last year.

Overall, there were 388 farm sales in the three months ended March 2018, compared with 384 farm sales for the three months ended February 2018 and 438 farm sales for the three months ended March 2017.

There were 1513 farms sold in the year to March 2018, 15.7 per cent fewer than were sold in the year to March 2017, with 26.6 per cent more finishing farms and 4.8 per cent more dairy farms sold over the same period.

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'Buoyed by strong prices for beef, lamb and horticultural products, and the improving prices being signalled in the dairy industry, farmers' attitudes are reflecting improving morale and a cautious degree of confidence.'

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REINZ rural spokesman Brian Peacocke said: "Following a considerable easing in sales during the three-month period ending February 2018, the most recent three-month period ending March 2018 recorded a solid upturn which reflected a dramatic recovery in activity, particularly in the northern regions.

"Buoyed by strong prices for beef, lamb and horticultural products, and the improving prices being signalled in the dairy industry, farmers' attitudes are reflecting improving morale and a cautious degree of confidence."

Thirty-seven Northland farms were sold for the three months ended March 2018 — 10 dairy, 12 finishing and 12 grazing farms, with single sales of arable, forestry and horticulture units.

The 10 Northland dairy farms had a median sales price per hectare of $15,286, below the region's February sales median of $13,703/ha, and trailing the 2017 March median of $15,678/ha.

Nationally, for the three months ended March 2018, the median sales price per hectare for dairy farms was $33,750 (80 properties averaging 93ha), compared to $34,238 for the three months ended February 2018 (89 properties) and $37,066 (99 properties) for the three months ended March 2017.

The median price per hectare for dairy farms has decreased 8.9 per cent over the past 12 months.

On a price per kilo of milksolids basis the median sales price was $37.39kgMS for the three months ended March 2018, compared to $37.45kgMS for the three months ended February 2018 and $35.26kgMS for the three months ended March 2017.

The dozen Northland finishing farms sold for the three months ended March 31 fetched a median price of $26,527/ha, a little higher than February 2018 but trailing the median sale price for finishing farms of $30,044/ha for the 132 properties averaging 41ha sold nationally in March.

The 12 Northland grazing farms sold for the three months ended March 31 fetched a median price of $9462/ha, down from $10,290/ha a month earlier and $13,878/ha in March last year.

For the three months ended March 2018, the national median sales price per hectare for grazing farms was $10,682 (103 properties averaging 133ha) compared with $10,827 for the three months ended February 2018 (101 properties) and $16,202 (158 properties) for the three months ended March 2017.

The median price per hectare for grazing farms has fallen 34.1 per cent over the past 12 months.

The Northland arable farm sold for the three months ended March 31 made $15,423/ha, the region's sole forestry sale was for $23,218/ha and the single horticulture unit sale fetched $200,299/ha.

Meanwhile, there were 189 Northland lifestyle blocks sold for the three months ended March 31 for a median price of $430,000, down from $440,000 in February and $$435,000 in March 2017.

Nationally, the 1716 lifestyle blocks sold for the three months ended March 31 brought a $647,500 median price, down on $650,000 in February but up on $625,000 in March last year.

The 250 lifestyle blocks sold in the Auckland region for the three months ended March 2018 had a median sales price of $1,205,000 — up $5000 on the median for February and for March 2017.