Strong domestic building activity combined with buoyant horticulture and viticulture industries has pushed up the price of roundwood logs to a record.
The average price for roundwood logs rose to $90 a tonne in February, up $5 from January's average price and at the highest level since AgriHQ began collecting the data in early 2002.
New Zealand local councils approved consents for 29,970 new dwellings last year, up 10 per cent from the previous year, as record net migration and low interest rates spur demand for additional housing.
A booming horticulture industry is also spurring investment activity in that sector, helping stoke demand for roundwood.
"The roundwood sector is currently in a period where interest is at unprecedented levels," AgriHQ analyst Reece Brick said in his monthly forestry market report.