Multiple offers for all six Wanganui region properties For Farms has taken to market in the past few weeks suggest a strengthening in the rural real estate sector.
"We have taken six properties to the market by tender over the past six weeks and it is pleasing to report that all our vendors received multi offers, in fact a total of 22 tenders were received," rural agent David Cotton said.
"This not only shows the strength of the market, but also the depth.
"During our marketing campaign we received inquiries from North Auckland, Waikato, Taupo, Hastings, Canterbury, Manawatu and South Taranaki, along with local interest.
"The unsuccessful tenderers have now given us an excellent database of unconditional cash buyers."
The range of properties include:
A lifestyle block on the main road, south of Wanganui.
The Smythes' dairy run-off at Mangamahu. This has been withdrawn from sale as the vendors have decided to lease their dairy farm.
Stuart Smith of Kai Iwi offered for sale 108ha and this sold.
John Matheson offered two properties - his 80ha homestead property at Glencairn Rd, which sold for above rateable value, and his 100ha run-off on Waimutu Rd, with a third in trees, which also sold above rateable value.
The Matthews Estate at Maxwell sold after receiving eight tenders.
Mahoe Station, Waitotara Valley, is under offer.
"We have received excellent [interest] from our feature advertising in the Wanganui Chronicle and the internet has also played an important part in our marketing campaigns," Mr Cotton said.
"One important point a vendor can overlook is who is the salesperson. All the best marketing in the world can go down the drain if that person does not know how and what questions to ask in the right order, and that changes if it's a phone call versus an email."
For Farms principal Craig Boynton said it was not only the time to review the autumn farm selling campaign, but also to restock the shelves with rural property for the spring.
"Activity in the rural market has been strong generally across the board, our autumn campaign included a spectrum of farms, from lifestyles to arguably some of Wanganui's best."
The Matthews Estate at Maxwell was a prime example, Mr Boynton said.
"Where is the market at, we are often asked. Having now established some benchmark sales, we can report that the market is moving in the right direction.
"Smaller 80-110ha is selling for between $13,500 and $17,500 per hectare ($5500-$7000 per acre). Bare land, mixed contour for around $6800 per hectare.
"Interest is uniform. However, the common denominator is quality, where interest is very strong."
For Farms believes that those better properties will command similar, if not higher levels than in the so-called good times of 2005-2008.
"Buyers are particular, very thorough, but they are out there. We have identified buyers keen to buy in all markets with the better end of the scale being where the most interest is," Mr Boynton said.
"Is the recession in land values over? This question was well answered by an experienced valuer who said 'we're coming out through the clouds'."