Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Rural Market Remains Confident

The events of September 11 have not impacted greatly on the rural property market, which has recorded a positive outlook for the seventh consecutive quarter according to a Massey University survey.

The University’s Real Estate Analysis Unit’s latest rural market real estate survey has recorded a positive outlook on the back of good commodity prices, a low kiwi dollar and low interest rates, despite the changed economic climate after the events of September 11.

The survey forecasts increased levels of sales for dairy farms (net 29%), hill country sheep and beef farms (net 36%) and arable/fattening farms (net 27%), compared with the same period last year.

For the third consecutive quarter the survey is less optimistic about sales volumes. Forestry sales are forecast to remain the same and horticultural property turnover rates are predicted to fall (-15% net).

Further price increase are forecast for dairy farms (net 22%), hill country sheep and beef farms (net 36%) and arable/fattening farms (net 36%).

The outlook for the pastoral sector remains positive but has declined by an appreciable amount since the last survey. It is likely that uncertainties about the impact of a slowing world economy and the war in Afghanistan have impacted on this decline.

The survey predicts there is a possibility the rural market may well be near the peak of the current cycle.

The outlook for horticultural blocks is that market prices will remain unchanged and there is a negative outlook for forestry (-7% net).

The survey is based on confidential questionaries completed by a panel of rural real estate market experts from the banking, real estate and valuation professions. Readers are reminded that it takes a “broad brush” approach to forecasting changes in the rural property market.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Paymark: Lockdown Equals Slowdown For Some

The three days of lockdown for Auckland earlier this month made a clear impression on our retail spending figures. While only Auckland moved into Level 3 lockdown, the impact was felt across the country, albeit at different levels. Looking at the ... More>>

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>

Sci-Tech: Perseverance Rover Lands On Mars – Expert Reaction

NASA has landed a car-sized rover on the red planet to search for signs of past life. The vehicle has more instruments than the four rovers preceding it, and it’s also carrying gear that could help pave the way for human exploration of Mars. The ... More>>

ALSO:


ASB: Quarterly Economic Forecast Predicts OCR Hike As Early As August 2022

Predictions of interest rate rises have been brought forward 12 months in ASB’s latest Quarterly Economic Forecast. Chief Economist Nick Tuffley now expects the RBNZ to begin raising the OCR from its current level of 0.25% as early as August ... More>>

ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>

Genesis: Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025

Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with 11 partners. Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to ... More>>

OECD: Unemployment Rate Stable At 6.9% In December 2020, 1.7 Percentage Points Higher Than In February 2020

The OECD area unemployment rate was stable at 6.9% in December 2020, remaining 1.7 percentage points above the level observed in February 2020, before the COVID-19 pandemic hit the labour market. [1] In December, the unemployment rate was also stable ... More>>

Stats NZ: Unemployment Drops To 4.9 Percent As Employment Picks Up

The seasonally adjusted unemployment rate dropped to 4.9 percent in the December 2020 quarter, from 5.3 percent in the September 2020 quarter, Stats NZ said today. Last quarter’s unemployment rate of 5.3 percent followed the largest increase observed ... More>>