Strong buyer demand for dairy farms in September

There was "strong demand" for dairy farms in September as milk powder prices rose again over the month, Real Estate Institute of New Zealand (REINZ) President Peter McDonald said today.

However, McDonald said farmers appeared to be sitting out the unseasonal wet weather before putting properties on the market.

The REINZ released farm sales figures for the three months to September, showing 178 farm sales over the period. This was down from 183 sales in the three months to August and 430 in the three months to September 2008.

"Muddy paddocks don't make for the most attractive rural real estate propositions and farmers appear to be sitting out the unseasonal wet weather before putting their properties on the market resulting in a slow September for rural sales," McDonald said.

"There's a strong demand for dairy, helped along by the recent further increase in the auction price of milk powder adding 5.7 per cent to the 50 per cent increase over the previous two months," he said.

To read the full NZ Herald article click here

Posted: 15 Oct 2009

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