Property report: Rural investments 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.
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.