19 Jul 2010

Rural property sales remain subdued

6:07 am on 19 July 2010

Rural property sales remain subdued according to the latest rural property market report.

The Real Estate Institute says 302 farms changed hands in the three months to the end of June.

That's up from 285 in the same period the year before, but less than half the 711 farms sold in the 2008 period.

The national median farm sale price for the three months to June stayed steady at $1,035,000.

Median prices for farms have fallen in 11 out of the 14 rural districts over the past year.