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.