19 Dec 2011

Farm sales continue to recover

6:37 am on 19 December 2011

Farm sales are continuing to show signs of recovery.

Real Estate Institute figures show 315 farms were sold in the past three months; 85% above the number at same time last year when 145 farms were sold.

Sales were also 10% up on the previous three months.

The median price per hectare, at more than $20,500, was just slightly below a year ago, but 8% up on the previous three-month period.

A rural market spokesman, Brian Peacocke, says there has been a more noticeable lift in dairy farm prices, with the highest price of $55,000 a hectare being paid in Waikato.

He says sales were helped by good springtime growing conditions, high commodity prices and low interest rates.