Radio New Zealand - Te Reo Irirangi o Aotearoa

Farms sales ease for winter

Updated at 7:57 am on 13 July 2012

Farm sales have eased in line with expectations for this time of the year as winter sets in.

But total farm sales for the year so far are nearly double that of last year.

The Real Estate Institute says there were 61 fewer farm sales in the three months to June, compared with the previous three months. That's a seasonally adjusted drop of almost 7%.

However, for the year to date, more than 1400 farms have been sold, that's 47% more than in the first half of last year.

The median price per hectare for all farms has also picked up a little, to $17,500.

The national median price for lifestyle blocks has hit a new record high of $478,000.

An institute spokesperson says demand for farm properties remains strong, despite the onset of winter and volatile commodity prices.

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