Our spring campaigns are off to a great start up and down the country, with our last tranche of 25 PB rural properties selling for over $100m.
As noted in our last edition, the market is definitely moving up a gear in the run-up to Christmas, particularly tier-one dairy properties. We have had dairy sales this season making $55,000+/ha in sought-after locations like the Waikato, Taranaki and Mid-Canterbury.
It is great to see the buyer interest in the market this season reflecting the improved economic sentiment. The only qualification being that buyers continue to take a very considered valuation approach with finite limits on what they are prepared to offer. Buyers are paying particular attention to any deferred maintenance, and this is reflected in their initial offers.
Our specialist team is very skilled at dealing with market inquiry and ensuring the property’s true value is professionally represented. Our best vendor option is to always have multiple offers through well-run marketing campaigns. So please note our regional updates, and if you are thinking of listing your property for the New Year, talk to us soon as we have some excellent 2025 rural marketing options.
Whether you’re looking to buy or sell your farm or lifestyle property, our True Team is here to exceed your expectations. With a perfect blend of energy and experience on your side, you can’t go wrong with Property Brokers.
Northland
The Northland market has seen an increased number of dairy farms being offered for sale, and whilst buyer inquiry is still relatively subdued, farms are selling. Good finishing properties are keenly sought after, with buyers trying to fi nd farms. The forestry market has begun to operate again, although at lower levels than in the past, and location determines the value.
The selling season here in Waikato has started on a very positive note. The dairy sector, particularly, is enjoying a renewed sense of buoyancy, and we are pleased to report that we have had three dairy farms sell successfully over the last 10 days. There are active buyers in the market who see the opportunity the current market presents, resulting in increased levels of enquiry on other dairy farms we currently have in the market and at levels we have not seen in several years. Support blocks and well-located smaller holdings in the 20ha-100ha size range continue to be well received by the market and sell well.
The Bay of Plenty region has seen an increased number of farms enter the market, which provides buyers with plenty of choices. Sales and enquiries are good, with two dairy units sold in the last couple of weeks and a number of tenders and auctions to be completed over November. Prices achieved are consistent and aligned to fair value outcomes for our vendors, who now can move on to their next projects. The orchard market does not offer that many purchasing opportunities currently, and with the stronger forecast returns and the present outstanding growing conditions, stock probably will remain tight; we expect this to reflect firmer values in this sector as we work through the season. We have qualified buyers actively looking for good orchard investments, so please call one of the team to discuss the market in detail because if you are considering selling, we will be able to assist.
Spring has kicked off well. In Taranaki, we’ve had two properties sold under the hammer at auction in recent weeks, getting the season off to a great start. A significant number of dairy farms have come to the market, some for the second year. Well-located, turnkey properties are attracting good values. In Whanganui we’ve seen plenty of smaller rural land sales complete. Ruapehu rural properties are coming to the market as the pasture growth curve lifts. Good sheep and beef farms are being welcomed back to the market as they arrive. The appetite currently tends to favour farms with lower inputs supplying good traditional stock to store markets. In all areas, buyers with their lenders are prepared to support those looking to purchase dairy, dry stock, and forestry properties.
The rural landscape across our region continues to distance itself from the devastation of the cyclone, and we have enjoyed some fi ne weather of late. Dare I say it, but some rain would be welcome in a few areas! The market is still in a reset mode with very few transactions through winter, although spring saw us produce some sound farm sales across CHB, Hastings and the Gisborne area. The buyer activity has been virtually all local farmer-to-farmer transactions, with one larger farm transacting to forestry. The opportunity now is for businesses to grow asset bases, with some very promising signs of interest rates dropping. The strong beef market and rising lamb schedules have also given some confidence to the farming sector. Forestry is still active in our region, but there are some limitations to how they see values. We remain optimistic about our sector and confident improvement will continue.
