PHOTO: There were 401 farm sales during the three months ending September. Photo credit: Getty
A year-on-year increase in farm sales over the past three months shows more people are choosing the “security of land ownership” over investing in other sectors impacted by the COVID-19 pandemic, according to the Real Estate Institute of New Zealand (REINZ).
The latest figures from REINZ show there were 131 more farm sales for the three months ended September than for the same time the previous year. Overall, there were 401 farm sales during that period, up from 270 in the three months ended September 2019. The number of sales was also up from 386 for the three months ended August 2020.
The total number of farms sold in the year to September was 1285, down 5.6 percent on those sold during the same time the previous year.
The figures showed there were 24.1 percent fewer dairy farms sold compared to the previous year, 14.9 percent fewer grazing farms, 9.3 percent fewer finishing farms and 4.6 percent fewer arable farms sold.
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