Dairy farm prices fall

For the three months to May, the median sale price per hectare for dairy farms was $35,281 compared with $38,802 for the three months to April and $33,543 for the three months to May 2014.

Dairy farm prices eased in the three months to May, the Real Estate Institute of New Zealand (REINZ) said in its latest rural report.

For the three months to May, the median sale price per hectare for dairy farms was $35,281 compared with $38,802 for the three months to April and $33,543 for the three months to May 2014.

Included sales data for the month of May were 23 dairy farms, which sold at a median value of $35,759 a hectare.

The REINZ Dairy Farm Price index fell by 4.3 per cent in the three months to May compared with the three months to April. Compared with May 2014, the index was up by 11.1 per cent.

Across all farms, there were 62 fewer farm sales in the three months to May compared with the same three months of last year, REINZ said.

The median price per hectare for all farms sold in the three months was $28,563 compared with $25,018 in the same three months of last year - a 14.2 per cent improvement.

The institutes's All Farm Price Index rose by 3.6 per cent in the three months to May, compared with the three months to April, and was up 4.6 per cent compared with the same period last year.