Archive for April, 2013

Hawkes Bay Rural Property Market Report Autumn 2013

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

Key highlights

  • Number of farm sales in the Hastings and Central Hawke’s Bay District for properties greater than 200 hectares are the lowest since 1998.
  • Gisborne and Wairoa Districts farm sales during 2012 again was high with a substantial increase in the average land value per hectare, generally due to higher quality properties being sold.
  • Some recent transactions of dairy properties including a resale in Norsewood equating to a 38% decrease in land and building value over a four year period.
  • An increase in the number of orchard sales near the end of 2012 resulting in a drop in market values with average land and tree values per hectare now around $55,000.
  • Eight cropping sales in 2012 compared to thirteen in 2011 with a slight reduction in land values.
  • 2012 viticulture sales resulted in some forced or near forced sales, particularly of smaller contract grower blocks, which lowered the average land and vine value. The 2013 harvest is looking promising with an estimated 17% increase from 2012 production levels.
  • Land acquired for carbon farming is in minimal demand, with NZU’s reaching an all time low of $1.50 during February. ERU’s are the carbon credit of choice for industrial emitters and foresters with liabilities currently trading at $0.14.  Limited pre 1990 sales.
  • Outlook for 2013 is projected to be steady for most sectors.

April 30, 2013 at 3:14 pm

Hastings Napier Rents and Yields Summary December 2012

 Download the latest research on the Hastings and Napier commercial property market.

In summary

  • Prime property still in a “holding” pattern with buyer unwillingness to commit
  • Conflicting data in the market, both positive and negative but broadly with more confidence apparent
  • Still limited sign of that confidence being expressed as change in the market
  • Investment property yields in both Hastings and Napier are stable and remain similar to previous levels at 8.1% and 7.7% respectively
  • Total returns in both Hastings and Napier markets have improved over the previous 6 months
  • The best performing sector is prime office property with industrial property coming a close second

April 30, 2013 at 2:44 pm

“KINDAR” Sale

The property of “Kindar” located on State Highway 50, Onga Onga, sold at auction Wednesday 24 April 2013.  “Kindar” comprises a 150ha dairy runoff block with a good level of improvements including a 5 bedroom homestead, woolshed, implement shed, 2 haybarns, and sheep and cattleyards.  Some 30ha of land is able to be irrigated.  Irrigation and stock water is provided from a 200mm bore.  Land comprises 45ha of undulating flats, 34ha of river flats with the balance being cropping land including Hastings, Poporangi and Argyll soils.  The property sold for $2.63M, which is some 18% less than its last sale price at the peak of the market in 2008 of $3.2M.  Analysed land values for the irrigated Hastings silt loam soils equate to $20,500/ha which is similar to other sales on the Ruataniwha Plains over recent times.  This property is located in the proposed irrigation area of the Ruataniwha Plains Dam, and this sale suggests that no premiums are yet being paid to secure land within this area.

April 30, 2013 at 11:25 am


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