The shortage of quality land available in the Northern Rangitikei is having a positive effect on the farm market.
This certainly was the case when 245 Omatane North Road went up for auction late last month at the Taihape Workingman's Club.
Bayleys agent Pete Stratton described the 53 hectare block as fertile and free draining flats, suitable for intensive livestock farming, horticulture plus cereal and fodder cropping.
He says the Kawhatau silt and stony, sandy loams are sought after soils in the region offering opportunities for cattle wintering and summer cropping.
Located only 11km off SH1, South of Taihape and comprising three titles, the bare land farm has reticulated water supplied via the Omatane water scheme, and private access down to a secluded reserve on the Rangitikei River.
The property attracted enquiries from 34 parties, resulting in 16 groups inspecting, with six of these attending the auction to compete for the property.
After spirited bidding, the hammer went down at $920,000, a whopping 35 percent over the current Rateable Valuation (RV) and over $17,000 per hectare.
Stratton says the demand has also affected the lifestyle market in the Taihape area with a recent sale of an attractive 4 hectare estate to Waikato buyers, returning a massive 48 percent over the current RV.