Recently Released Data From The Real Estate Institute Of New Zealand Shows That While The Number Of Farm Sales Is Low, The Market Remains Strong

Recently released data from the Real Estate Institute of New Zealand shows that while the number of farm sales is low, the market remains strong. 1131 farms were sold in the year to June 2023 – 571 less than were sold in the year June 2022. There were 37.5% fewer dairy farms sold, 13.5% fewer dairy support farms – 37.4% fewer finishing farms and 22.3% fewer grazing farms sold in that period. The median sales price per hectare for dairy farms was $38,160 compared to $37,010 for the three months ended June 2022. On a price per kilo of milk solids basis, the median sales price was $36.67 per kg of milk solids for the three months ended June 2023, compared to $36.95 per kg of milk solids for the three months ended May 2023 and $35.94 per kg of milk solids for the three months ended June 2022.