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.
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