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20 March 2020

Rural Real Estate Report March 2020

The Country's Jamie Mackay is joined by PGG Wrightson's GM for Rural Real Estate Peter Newbold to take a look at the rural property market this month in light of Covid-19.

"It is fair to say nothing has really changed in the last few weeks" said Newbold.

The interest continued to be around sheep and beef properties, with an increase of activity around horticulture, and dairy was still subdued.

Newbold said he anticipated that this might change and real estate values will be challenged especially around yield issues.

Mackay brought up that asset prices were being challenged and there might be renewed interest in dairy farms as it seemed to be one of the more resilient industries.

New Zealand was fortunate to have these resources "at our back door" and the rural market might see growth as a result said Newbold.

Situations such as Covid-19 bring out the worst and best in humanity said Mackay.

Newbold reflected on a comment from his mother, who was raised in war time England - "we all got through it – and we worked together."

Mackay and Newbold then took a look at the latest property of the week – Off the grid lifestyle in Wairau Valley.

"Highlands" is set on 12ha and is above all else with its grandeur house and magnificent vista.

It has the added bonus of an extra three-bedroom cottage also set in an elevated position below the main house.

The farm is well fenced into 16 paddocks of various sizes making it ideal for horses or other livestock.

There are cattle yards and numerous outbuildings which include lock-up workshops, tractor sheds and hay sheds.

Related Articles

Autumn Lifestyle Collection 2020

03 March 2020

This autumn’s Lifestyle Collection is just released showcasing lifestyle and residential properties on the market.

We’ve just released the autumn edition of our Lifestyle Collection magazine, showcasing a wide selection of quality lifestyle and rural-residential properties on the market. Read online below or contact your local office to have a printed copy mailed to you.

For anyone seeking to buy or sell lifestyle and residential property, we have a national team of expert locals who can assist and guide you. Our salespeople have deep roots in their communities and are therefore ideally placed to provide wise and objective advice to help you achieve your property goals.

In this edition of the Lifestyle Collection more than 70 pages of current lifestyle and residential listings are featured along with interesting property stories from around the country. As well, check out this autumn’s top tips for growing garlic, summer hot chillies and how to adopt retired working dogs. Our top tip this edition is Agrecovery - this article  provides information on sustainablility on our lifestyle blocks.

Head to PGGWRE to browse properties and more now.

How rural real estate could change after Covid-19

30 April 2020

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.

Although the lockdown had put restrictions around trading, a few properties had been sold in the past month, said Newbold.

The majority of these transactions were rural without homes on the property.

Mackay queried "the new normal" as he and Rowena Duncan watched drone footage of a property showcasing virtual viewings.

Mackay stressed that this still gives a really good look at the rural property.

PGG Wrightson was promoting and doing a lot more digitally, with an increased use of digital mail, social media, display marketing, Google and video content, said Newbold.

Newbold felt these digital elements would become more prominent moving forward as they gave buyers better insights into the properties.

Mackay asked if there will be a reduction in the value of farmland.

Newbold was uncertain on this trend as pre-Covid-19 there was already a lull in the market with drought, banking restrictions, processing delays and environmental issues.

However, Newbold remained hopeful that, as New Zealand moved out of the Alert Level system, sales of rural farming properties would slowly return and prices remain stable.

Positivity from the primary sector and successful real estate sales

22 May 2020

GM for Rural Real Estate Peter Newbold joins The Country's Jamie Mackay as he journeys out of the home office for the first time since the lockdown.

Mackay comments on some positivity in the primary sector, and mentions a previous conversation with Todd Muller that highlights the movement of people at work in the horticulture and viticulture sector and how they returned to work without an appearance from Covid-19.

Newbold agrees and notes that the only sector that may call for some concern is in the Hawke's Bay and areas that were hit but the drought earlier this year.

General farming real estate continues to maintain good interest, particularly sheep and beef.

Newbold highlights this could be due to quality, capacity and works ability. Newbold adds that there has been an increase in enquires since the lock down and not all of them are from locals or corporates.

Mackay moves on to the PGG Wrightson Real Estate's Property of the Week.

Mackay said the purchase of this farm was a good example of the kind of properties that have been selling well recently.

Newbold agrees and highlights that if the property infrastructure is good and the marketing is done well then the property will sell.

Mackay wraps up by touching on the dairy farming and low levels of interest in dairy properties. Newbold emphasises looking at the yield piece rather than the capital gains.

Property of the Week – Ruapuna: Productive Dry Land With Reliable Rainfall - SOLD

(SOLD) The property has cattle yards, numerous sheds, concrete floor fertiliser shed, plus 440T silo capacity for grain storage. New all-weather farm access track laid in January 2020.

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