Low median dairy price

Northland grazing properties fetched a median price of $13,392 a hectare in the three months to May 30. Photo / File

Northland dairy farms sold in the three months to May 30 had a median price of $19,643 a hectare, the second lowest cost for dairying land in the country behind Nelson on $12,703.

Real Estate Institute of New Zealand (REINZ) figures show the median price for the 87 dairy farms sold in May was $35,281, with the highest prices per hectare going to dairying properties in Waikato ($39,917), Taranaki ($58,049) and Canterbury ($51,705).

Median production per hectare of all dairy farms sold in May was 959kgMS.

Northland grazing properties fetched a median price of $13,392 a hectare in the three months to May 30, when the median for the 215 properties sold nationally was $16,638 a hectare.

Auckland ($27,968 a hectare), Waikato ($31,925) and Taranaki ($31,564) brought the highest prices per hectare for grazing land, with Gisborne ($6401), Nelson ($8178) and Manawatu/Whanganui ($7749) easier on the pocket.

Despite the disparity in prices, REINZ said ongoing dairy sales in Northland was a highlight of the May market, as were strong sales of grazing properties in Northland, Manawatu/Whanganui, Canterbury ($20,162 a hectare) and Southland ($24,268).

Northland finishing farms fetched a median $19,149 a hectare in the three months to May 30, when the 77 finishing properties averaging 46ha sold around the country brought a median $27,534 a hectare, compared with the $22,692 median for the 122 finishing farms in the same three months last year.

Northland forestry blocks sold in May had a median price of $8250 a hectare. The median forestry land sale price around the country was $3902 a hectare with Gisborne ($6776 a hectare), Canterbury ($948) and West Coast ($4139) showing how it was spread.

There were 70 horticulture blocks averaging five hectares sold for a median $247,549 a hectare in the three months to May 30, with Northland sales bringing $128,544 a hectare, down from $231,360 a year earlier.

Meanwhile, Northland lifestyle block sales lifted by 62 in the three months to May 30, when there was a 17.4 per cent increase (+306 sales) in the lifestyle sales volume nationally.

The national median price for lifestyle blocks increased to a record $560,000 in May.

REINZ rural spokesman Brian Peacocke said that while rural sales volumes for May eased compared to the previous period, activity across most categories remained surprisingly strong with a shortage of available properties.