“Numerous issues continue to impact the rural sector with the well publicised restrictions emanating from some members of the banking sector now being trumped by market restrictions resulting from coronavirus to shortage of killing space at a critical time of the year to the onset of extraordinarily dry conditions bordering on drought throughout the North Island and the top of the South.
“The amazing contrast has been the heavy rain, cooler temperatures and flooding in the lower South Island.
“The resilience of the rural sector is being severely tested,” Peacocke said.
There were 57 fewer farm sales, a fall of 13.6%, for the three months to January 31 than for the three months to January 31 2019.
During the three months to January 31 there were 363 farm sales compared to 345 for the three months to December 31 (+5.2%), and 420 for the three months to January 31 2019.
There were 1277 farms sold in the year to January 31, 14% fewer than the corresponding period a year earlier with 40.3% fewer dairy farms, 3.9% fewer grazing farms, 28.4% fewer finishing farms and 9.8% fewer arable farms sold.
The median price per hectare for all farms sold in the three months to January 31 was $21,221 compared to $27,087 for three months ended January 31 2019, a fall of 21.7%.
The median price per hectare in January was 7.7% less than in December.
Five of the 14 regions had more farm sales for the three months to January 31 compared to the corresponding period a year earlier, including Auckland (+10) and Northland (+9).
Waikato had the biggest fall in sales (-32) followed by Taranaki (-13).
Eight regions had more sales compared to the three months to December 31, with Northland having the biggest increase (+13), followed by Waikato and Southland (both +5).
Grazing farms had the biggest number of sales with a 34% share of all sales over the three months to January 31, followed by finishing farms at 27%, dairy 12% and horticulture 7%.
The median sales price per hectare for dairy farms sold in the three months to January 31 was $35,967 (43 properties) compared to $38,152 (35 properties) for the three months to December 31 and $38,642 (69 properties) for the three months to January 31 2019.
The median price per hectare for dairy farms fell 6.9% over the past year.
On a price per kilo of milksolids basis the median sales price was $38.72 for the three months to January 31 compared to $41.40 for the three months to December 31 (-6.5%) and $40.28 for the three months to January 31 2019 (-3.9%).
For finishing farms sold in the three months to January 31 the median sale price per hectare was $30,032 (98 properties) compared to $31,008 (90 properties) for the three months to December 31 and $29,587 (136 properties) for the three months to January 31 2019.
The median price per hectare for finishing farms rose 1.5% over the past year.
For grazing farms sold in the three months to January 31 the median sales price per hectare was $9910 (125 properties) compared to $10,177 (119 properties) for the three months to December 31 and $10,295 (118 properties) for the three months to January 31 2019.
The median price per hectare for grazing farms fell 3.7% over the past year.
The median sales price per hectare for horticulture farms sold in the three months to January 31 was $283,807 (24 properties) compared to $261,131 (31 properties) for the three months to December 31 and $160,618 (41 properties) for the three months to January 31 2019.
The median price per hectare for horticulture farms has risen 76.7% over the past year.
