Hawkes Bay Rural Property Market Report Autumn 2013

April 30, 2013 at 3:14 pm

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.

Entry filed under: Rural Market.

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