North Canterbury affordable for local buyers

More sheep and beef farms are selling in North Canterbury than other parts of the province as lower prices help local buyers increase the scale of their farming operations.

Most sales are of small to medium properties, Colliers International valuer Tim Banks said. 

Rural sector cautious on land

Top-quality kiwifruit blocks sold at record prices in a flurry of activity in the Bay of Plenty, highlighting a generally slow national rural real estate market.

Dairy loses gloss

Political and banking uncertainty appears to be taking some of the gloss off the dairy industry with just seven farms in Southland and Canterbury selling in the last six months.

From October to the middle of March just two dairy farms in Canterbury and five in Southland were sold but a broader lack of buyer confidence has eased national dairy land prices by up to 15%.