Hawkes Bay Rural Property Market Report Spring 2012

10/11/2012
Download a detailed synopsis of the current rural property market with trend graphs showing historical property values here.


Key highlights

  • Farm sales in the Hastings and Central Hawke's Bay Districts have been slow for the 2012 calendar year to date. Earlier signs this spring show a lift in the number of listings.
  • Farm sales in the Gisborne and Wairoa District are back to normal levels after the exceptional year in 2011 driven by the forestry sector.
  • Three sales of dairy properties in 2012 to date. Reduction in industry confidence after the latest forecast payout downgrade.
  • An increase in the Heretaunga Plains orchard sales after a prolonged period of limited activity and flat market. There now appears to be interest from investor type purchasers committing to long term lease agreements.
  • Cropping market has had modest sales volume with values of premium land holding well and being the most desirable.
  • Two tier viticulture market occurring with two recent Gimblett Gravels sales indicating some market optimism with values outside the Gimblett Gravels generally showing a decrease.
  • Land acquired for carbon farming has all but ceased due to the price of NZU's reaching an all time low of $2.80 during September. Sales of pre-1990 land continue to be limited. 
 
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