Property report: 'Onwards and upwards' - rural property on the rise
PGG Wrightson's General Manager for Rural Real Estate Peter Newbold joins The Country's Jamie Mackay to take a look at the rural property market this month.
The rural real estate market is heating up as it has seen more activity in the past two months compared to the previous three to four years, Mackay said.
Newbold agreed, and said this has been helped by traditional autumn sales being brought forward and a lot of historic listings which had now been cleared.
Mackay said there was a strong interest in larger beef or sheep properties.
A lot of this interest stemmed from investor groups, large entities, or people from metropolitan areas who had resources and were looking for investment opportunities, Newbold said.
Horticulture properties were still a hot commodity as owners were reluctant to sell, Newbold said.
Dairy farming was starting to generate interest again as some larger investment groups were looking for opportunities, Newbold said.