Farm sales stay low, lifestyle property prices hold up

Lifestyle property prices are holding up, but it is too early to tell if rural property sales have recovered given the low turnover in dairy farms, the Real Estate Institute said today.

The median price for lifestyle properties for the three months to March was almost flat on a year earlier, at $448,500 compared with $450,000 in the March 2008 quarter, the institute said.

The number of lifestyle property sales fell to 1041 from 1484 a year earlier.

The median price for farms sold during the quarter fell to $1.175 million from $1.685 million a year earlier. However, the price was comparable to the same period in 2007.

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Posted: 14 Apr 2009

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