An 18 per cent drop in dairy farm values in the past year is a trend that has been "slowly building," says Peter Newbold.

The GM of PGG Wrightson Real Estate told The Country's Jamie Mackay that the trend is "real" and illustrated by the amount of listings on the market and the appetite from buyers.

Although there are variations in each region, Newbold reckons there's not going to be "a lot of change in that [situation] for a wee while."

Also in today's interview: Peter Newbold talks about foreign investment in New Zealand rural property and takes a look at some good news stories for sheep and beef and horticulture markets.

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