Listen: Rural property update with Peter Newbold

PGG Wrightson Real Estate GM, Peter Newbold. Photo / Supplied

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On today's show, Peter Newbold told The Country the rural property market is so similar to last month, host Jamie Mackay cheekily suggested replaying last month's interview.

The GM of PGG Wrightson Real Estate agreed, but said he had noticed a few differences.

"Not a lot has changed Jamie, since last month, other than ... maybe we might see a little bit more activity from a listing front, especially in that sheep and beef and dairy coming into the spring."

Listen below:

"Maybe people are starting to realise that values have flattened," said Newbold.

Dairy

"I think they're getting a bit of a bad rap at the moment when you add everything up. I think probably what's taken place [is that] you have that period where values just went up strongly for such a long period of time".

"I think with that easing and pressures from a financial perspective, there's been that period where there's been a bit of inactivity and like all things I think that will slowly change."

Sheep and Beef

Smaller grazing properties are selling well said Newbold who said "close to 50 per cent of all the sales at the moment are in that space".

"A lot of them are those sort of properties that we know that might have 50 cattle or the like, so there's good movement in that ... you're getting a lot of support blocks being purchased as well. So that's a good area and I think that'll continue as some of these properties closer to these towns get subdivided and they want to realise some value".

Horticulture

"That's looking really good. I think the only challenge has been in the last few months that there probably hasn't been a lot of supply, but I think we've such a strong run over the last few years".

"Also, while you're getting such good returns and the outlook looks strong there's probably a little bit of people holding back on actually selling those properties."

"But, again, land use will kick in and I think we'll see more activity over the next six to 12 months".

Also in today's interview: Mackay and Newbold take a look at PGG Wrightson Real Estate's latest Property of the Week.