15 Apr 2010

Farms getting too expensive for some in NZ

5:54 pm on 15 April 2010

The Real Estate Institute says a lack of investment capital is locking New Zealanders out of the dairy industry.

The Overseas Investment Commission is considering a Chinese company's bid to buy 24 dairy farms in the central North Island.

Natural Dairy New Zealand wants to purchase up to 70 farms throughout the country and says it has been inundated with calls from farmers who want to sell up.

Real Estate Institute president Peter McDonald says farmers will sell to whoever has the money and the high price of land means it will not be New Zealand families buying the farms.