Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Rural Real Estate market ends 2013 on positive note

News Release: 24 January 2014

Rural Real Estate market ends 2013 on positive note

Data released today by the Real Estate Institute of NZ (REINZ) shows there were 292 more farm sales (+20.1%) for the three months ended December 2013 than for the three months ended December 2012.

Overall, there were 554 farm sales in the three months to end of December 2013, compared to 414 farm sales for the three months ended November 2013 (+33.8%).  1,746 farms were sold in the year to December 2013, 20.1% more than were sold in the year to December 2012, the largest number of sales in a 12 month period since February 2009.

The median price per hectare for all farms sold in the three months to December 2013 was $24,163 compared to $23,070 recorded for three months ended December 2012 (+4.7%).  The median price per hectare rose 0.4% compared to November. 

The REINZ All Farm Price Index rose by 1.2% in the three months to December compared to the three months to November, from 3,218.3 to 3,256.1.  Compared to December 2012 the REINZ All Farm Price Index rose by 4.9%.  The REINZ All Farm Price Index adjusts for differences in farm size, location and farming type compared to the median price per hectare, which does not adjust for these factors.

10 regions recorded increases in sales volume for the three months ended December 2013 compared to the three months ended December 2012.  Otago recorded the largest increase in sales (+32 sales), followed by Southland (+30 sales) and Waikato (+25 sales).  Four regions recorded decreases in sales volume with Nelson recording the largest fall (-17 sales), followed by West Coast (-2 sales), and Auckland and Gisborne with one sale less each.  Compared to the three months ended November 2013, 12 regions recorded an increase in sales.

“The results for the three months to the end of December reflect strong confidence in the rural sector, with a further lift in sales volumes compared to three months ending November”, says REINZ Rural Spokesman Brian Peacocke, “The combination of incremental price increases and ongoing demand for quality properties is a sign that these positive trends will continue into 2014.”

Noteworthy points include: -

> A very healthy market for dairy properties with 121 sales for the three months ended December and an increase of 52 sales on the three months ended November, this being the result of activity in Northland, Waikato, Taranaki and Canterbury.
> A strong lift in the drystock sector with 111 finishing property sales and 237 grazing property sales, giving increases of 29 and 57 respectively for the months ended December, comapred to the three months ended November, Manawatu/Wanganui and Otago being the stand out regions.
> Continuing steady horticulture sales in the Bay of Plenty.

Grazing properties accounted for the largest number of sales with 42.8% share of all sales over the three months to December, Finishing properties accounted for 20.0%, Dairy Properties accounted for 21.8% and Horticulture properties accounted for 6.5% of all sales.  These four property types accounted for 91.2% of all sales during the three months ended December 2013.

Dairy Farms
For the three months ended December 2013 the median sales price per hectare for dairy farms was $38,267 (121 properties), compared to $40,023, for the three months ended November (69 properties), and $34,483 (63 properties) for the three months ended December 2012.  The median dairy farm size for the three months ended December 2013 was 112 hectares.

Included in sales for the month of December were 62 dairy farms at a median sale value of $36,933 per hectare.  The median farm size was 112 hectares with a range of 47 hectares in Taranaki to 370 hectares in Northland.  The median production per hectare across all dairy farms sold in December 2013 was 909 kgs of milk solids.

The REINZ Dairy Farm Price Index rose by 5.3% in the three months to December compared to the three months to November, from 1,845.9 to 1,943.4.  Compared to December 2012 the REINZ Dairy Farm Price Index rose by 10.1%.  The REINZ Dairy Farm Price Index adjusts for differences in farm size and location compared to the median price per hectare, which does not adjust for these factors.

Finishing Farms
For the three months ended December 2013 the median sale price per hectare for finishing farms was $21,289 (111 properties), compared to $19,696 for the three months ended November (82 properties), and $18,852 (64 properties) for the three months ended December 2012.  The median finishing farm size for the three months ended December 2013 was 96 hectares.

Grazing Farms
For the three months ended December 2013 the median sales price per hectare for grazing farms was $16,308 (237 properties) compared to $17,364 for the three months ended November (180 properties), and $16,511 (172 properties) for the three months ended December 2012.  The median grazing farm size for the three months ended December 2013 was 69 hectares.

Horticulture Farms
For the three months ended December 2013 the median sales price per hectare for horticulture farms was $141,134 (36 properties) compared to $142,341 (39 properties) for the three months ended November, and $89,139 (34 properties) for the three months ended December 2012.  The median horticulture farm size for the three months ended December 2013 was five hectares.

Lifestyle Properties
The lifestyle property market saw a 4.3% (+69 sales) increase in sales volume in the three months to December 2013 compared to December 2012.  1,687 sales were recorded in the three months to December 2013 compared to 1,618 sales in the three months to December 2012.  32 more sales were recorded compared to the three months to November 2013 (+1.9%).  For the 12 months to December 2013 there were 6,591 unconditional sales of lifestyle properties, an increase of 13.8% (+797 sales) over the 12 months to December 2012.

Nine regions recorded increases in sales compared to December 2012 while five recorded decreases in sales.  Northland recorded the largest increase (+51 sales), followed by Auckland (+39 sales) and Wellington (+23 sales).  Compared to November 2013, nine regions recorded an increase in sales with four regions recording decreases. 

The national median price for lifestyle blocks rose by $30,000 (+6.1%) from $490,000 for the three months to December 2012 to $520,000 for the three months to December 2013 to reach a new record high.  Canterbury, Manawatu/Wanganui and Waikato all recorded new record highs for the three months to December.   The median price for lifestyle blocks in Auckland rose by 12.1% in the year to December 2013 to $817,500.  The median price rose by 11.0% in Waikato to $510,000, and by 16.7% in Canterbury to $595,000. Compared to November 2013 the median price rose by $20,000 (+4.0%) from $500,000 in November to $520,000 in December.

The number of days to sell for lifestyle properties improved by three days, from 62 days for the three months to the end of November to 59 days for the three months to the end of December.  Compared to the three months ended December 2012 the number of days to sell improved by two days from 61 days to 59 days.  Taranaki recorded the shortest number of days to sell in December at 30 days, followed by Gisborne at 31 days and Auckland at 46 days.  West Coast recorded the longest number of days to sell at 241 days, followed by Bay of Plenty at 108 days and Hawkes Bay at 89 days.

Commenting on the lifestyle property market Brian Peacocke said, “A positive aspect if the lifestyle market is the steady increase in sales numbers over the past six months, with 1,687 sales for the three months ended December, moving close to the peak volumes seen earlier this year.”

“The national median price of $520,000 reaching a new high and is an indication of the current healthy market activity, with Northland, Taranaki, Nelson/Marlborough and Southland all experiencing increases in sales volumes.”
ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Parliament Today: State Opening Of Parliament

The House sits at 10.30am today before MPs are summoned to hear the Speech from the Throne in the Legislative Council Chamber.

The speech delivered by the Governor-General on the Government’s behalf outlines its priorities for this Parliament.

After this MPs will return to the House for the presentation of petitions and papers and the introduction of any bills.

The Government has five notices of motion on the Order Paper which can be debated. These relate to relating to the appointment of the Deputy Speaker, Assistant Speakers, the reinstatement of business in a carryover motion and one on “Entities to be deemed public organisations”. More>>

 

Tertiary Education: Students Doing It Tough As Fees Rise Again

The Government is making it increasingly difficult for Kiwis to gain tertiary education as fees continue to rise and access to student support becomes even more restricted, Labour’s Tertiary Education spokesperson Chris Hipkins says. More>>

ALSO:

Housing, Iraq: PM Press Conference – 20 October 2014

Prime Minister John Key met with press today to discuss:
• Housing prices and redevelopment in Auckland
• Discussions with Tony Abbott on the governmental response to ISIS, and New Zealand’s election to the UN Security Council More>>

ALSO:

Labour: Review Team Named, Leadership Campaign Starts

Labour’s New Zealand Council has appointed Bryan Gould as Convenor of its post-General Election Review. He will be joined on the Review Team by Hon Margaret Wilson, Stacey Morrison and Brian Corban.

ALSO:


Roy Morgan Poll: National Slips, Labour Hits Lows

The first New Zealand Roy Morgan Poll since the NZ Election shows National 43.5% (down 3.54% since the September 20 Election). This isn’t unusual, National support has dropped after each of John Key’s Election victories... However, support for the main opposition Labour Party has crashed to 22.5% (down 2.63% and the lowest support for Labour since the 1914 NZ Election as United Labour). More>>

ALSO:

In On First Round: New Zealand Wins Security Council Seat

Prime Minister John Key has welcomed New Zealand securing a place on the United Nations Security Council for the 2015-16 term. More>>

ALSO:

TPP Leak: Intellectual Property Text Confirms Risk - Jane Kelsey

The US is continuing its assault on generic medicines through numerous proposed changes to patent laws. ‘These are bound to impact on Pharmac if they are accepted’, according to Professor Kelsey... Copyright is another area of ongoing sensitivity... More>>

ALSO:

RMA: Smith Plans Reform To Ease Urban Development

Newly appointed Environment Minister Nick Smith has announced Resource Management Act reform to foster urban development, where high land prices and expensive resource consents are blocking efforts to provide affordable housing. More>>>

ALSO:

Gordon Campbell: On New Zealand getting involved (again) in other people's wars

Apparently, the Key government is still pondering how New Zealand will contribute to the fight against Islamic State. Long may it ponder, given the lack of consensus among our allies as to how to fight IS, where to fight it (Syria, Iraq, or both?) and with whose ground troops, pray tell? More>>

ALSO:

Gordon Campbell: On child poverty, and David Shearer’s latest outburst

The politicisation of (a) the public service and (b) the operations of the Official Information Act have been highlighted by the policy advice package on child poverty that RNZ’s resolute political editor Brent Edwards has finally prised out of the Ministry of Social Development. More>>

ALSO:

Gordon Campbell: On the government’s review of security laws

So the Key government is about to launch a four week review of the ability of our existing legislation to deal with “suspected and returning foreign terrorist fighters, and other violent extremists.”

According to its terms of reference, the review will consider whether the SIS, GCSB and Police are sufficiently able right now to (a) investigate and monitor suspected and returning foreign terrorist fighters… More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news