Farm Sales Continue To Decline Except In One Area, Sauvignon Blanc Grape Vineyards In Marlborough

Farm sales continue to decline except in one area. Sauvignon Blanc grape vineyards in Marlborough. Prices have topped $400,000 per hectare this year, up almost 60% on past record. Andy Poswillo, director for Colliers in Marlborough says it is a big jump from the $270,000 per hectare the best vineyards fetched for a long time. He says the best vineyards deliver consistent high-quality yields and investors look at the value of a vineyard comes in terms of yield and location. Sauvignon blanc grapes harvested recently sold for up to $2200 per tonne. Real Estate Institute rural spokesperson Shane O’Brien says these sales were the only “bright spot” in the rural property market . There were 166 fewer farm sales for the three months ended May than for the same three months ended May 2022.