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19 July 2021

Property Report: Rural Market Wraps up 2020-21 Season

The Country’s Rowena Duncum is joined by PGG Wrightson’s General Manager for Rural Real Estate Peter Newbold to take a look at the rural property market this month.

The 2020-21 rural real estate season has come to an end. Newbold notes that it has been the best year recently, especially with all sectors selling robust and values are up and there has been some promising movement in the dairy sector.

Duncum queries who the most active buyers are this past season. Newbold highlights that usually it is someone from the rural community, but now there are a lot of new entrance buyers in the market which hasn’t been seen for some time. 

Farmers who are looking at putting their properties on the market have been driven by retirement, family succession, the banks are cooperative, and the current positive market place. Newbold adds that if you are looking at selling, then now would be a really good time.

Overseas investment office regulations are still impacting the rural real estate market, particularly with properties over the $13 million mark. 

Duncum queries if issues around labor are influencing property buyers decisions. Newbold notes that there is more to the day-to-day operation of a farm than some people realize.  

Newbold highlights that the rural industry is a wonderful community to be involved with.

Related Articles

Property Collection Winter 2021 Out Now

22 June 2021

The new PGG Wrightson Real Estate publication the Property Collection is out now. This winter property publication highlights quality rural, lifestyle, residential and commercial properties listed for sale throughout New Zealand.

Our sales team throughout the country have been continuously busy across autumn and now leading into the spring listing period, with inquiry from prospective purchasers and action from aspiring vendors. This publication has an interesting variety of stories plus market commentary from around the country.

As you can see in this winter edition of the Property Collection, we have plenty of excellent listings awaiting your inspection and a national team of expert locals who can assist and guide you. 

Read the Winter 2021 articles online using the links below or read the full publication here.

Property Report: Lockdown won’t stop the Rural Market

27 August 2021
Listen now:  Lockdown won’t stop the Rural Market
The Country’s Jamie Mackay is joined by PGG Wrightson’s General Manager for Livestock and Rural Real Estate Peter Newbold to take a look at the rural property market this month with New Zealand being at alert level 4 lockdown.
Mackay queries if this lockdown will encourage Aucklanders to invest in rural property. Newbold thinks there will be some movement to provincial New Zealand, and not only because of lockdown, there is a good sense of community, a better lifestyle, and a more reasonable cost of living.
The livestock season annually slows down this time of year due to lambing and calving, and should see minimal disruption due to the lockdown. Newbold adds that welfare is the only reason to be visiting farms at this stage.
Newbold reminds Mackay that when New Zealand moves to alert level 3 that access to farms is still limited and sale yards can be operated with strict protocols. Thanks to Bidr, sale yards have the capacity to broadcast auctions online, allowing those out of region to purchase livestock. 
Mackay asks if people are still looking for rural investments throughout lockdown. Newbold confirms that people from all walks of life are definitely still looking, and that there will still be activity as spring approaches.
Newbold adds that the dairy industry has quietly generated interest recently and there have been sales taking place.
Mackay asks if the rural market will be anything like the peak in 2014.  Newbold thinks that this is possible and if you look at the position the world is in, people will see a lot of value in rural properties especially in New Zealand.

Property Report: The Rural Market Boom

17 September 2021

The Country’s Jamie Mackay is joined by PGG Wrightson’s General Manager for Livestock and Rural Real Estate, Peter Newbold, to look at rural property this month with the market being worth more now than it was this time a month ago.

Newbold notes that they currently have more listings than they have ever had, and he puts that down to the quality of properties and the large numbers of enquiries. There continues to be a strong interest in dairy, and Newbold anticipates a large number of transactions in the 15 million+ bracket.

Mackay comments how the dairy industry has been “unfashionable” for the past 4 or so years, and how it has become popular again. Newbold agrees and adds that while it is a wonderful industry, it can be hard to find workers. 

Mackay asks about the sheep and beef market being driven by forestry, and raises concern around the impact from carbon farmers overtaking pastoral land. Newbold adds that maybe it has gone too far but it is a critical part of New Zealand’s economy. 

Horticulture is holding strong, and Newbold anticipates a few listings to come through.

The lifestyle market continues to entice new buyers. Newbold comments on the large numbers of purchasers coming from the metropolitan areas, the limited number of listings, and the trend of auctions being pulled forward due to the demand.

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