Rural Lifestyle on the rise
The Country's Jamie Mackay 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.
There had been an increase in interest around rural properties. Newbold put it down to low interest rates and, from an investment perspective, property had been always been safe.
"If you buy it right then you'll get a good return ... the lifestyle is something we all enjoy."
For the first time in four to five years all sectors in rural were moving forward. In addition, traditional selling periods were changing.
The dairy industry had stalled recently, however, as Newbold pointed out, some dairy farms had sold where the vendor had provided a good price with a fair return.
"Kautuku" is a multi-purpose farming business on the doorstep of Hastings. Situated some 10 kilometres west of Hastings, this 420 hectare property has it all. The options here are endless and the current owners of thirty plus years are handing it on in great heart.
The Country's Jamie Mackay 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.
Mackay queries the return of corporate investors back into farming. Newbold confirms that they have returned along with a variety of other buyers.
In addition to the variation of buyers, banks are currently "playing ball" in terms of rural lending up to certain thresholds.
Newbold elaborates that there has been some loosening by the banks as this is the best 3-4 months he has seen in the past few years.
Horticulture continues to be a stand out in terms of investment, and dairy farming seems to be making some positive movements as people move past the negatives of the industry.
Mackay talks about post-covid migration towards the rural sector as people move away from the metropolitan areas.
Newbold adds there is big demand for lifestyle blocks as people now have the ability to work from home.