RURAL PROPERTY UPDATE Manawatu & Rangitikei …...Peter Barnett AREINZ - Rural Sales B.Com (Ag),...
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Peter Barnett Manawatu & Rangitikei Spring 2016 RURAL PROPERTY UPDATE Less farms coming on the market = less sales = prices remaining firm The number of farms sold in the Manawatu/Rangitikei region eased over the past 12 months from the previous season, primarily due to a lack of properties on the market. Similar to last season there were good transaction numbers prior to Christmas, but in the first half of 2016 few new properties came forward to the market. The lower number of listings has meant that those properties new to the market are generally receiving good enquiry numbers and results as a consequence. Some parts of the market have seen strong activity; the rise in both manuka honey and carbon unit prices has seen suitable properties attracting strong competition and price realisation. While this tends to be on harder types of hill country, these good sales are releasing capital, some of which moves into other parts of the land market. We have recently seen with the sale of Potaka Station near Feilding, that there is still strong buyer enquiry from the south island, for the right property. More property being sold than being listed - a long term trend The reduction in rural properties for sale is a long term trend that has developed since the Global Financial Crisis. The above graph tracks the number of rural properties advertised for sale across the country at the end of June each year on NZ's largest rural website, nzfarms.co.nz. While number of sales has steadily increased over this period (see top graph), the number of new listings has not kept pace, resulting in the number of farms on the market each winter dropping by 65% over this period. So why is this? The answer we think is a combination of things including a large "hangover" of unsold property in 2010 post GFC, the continued aggregation of farmland vs "trading up" and part of a long term cycle that farm ownership is. So is this the new norm? - while I'm sure buyers would enjoy more choice at times, it does create stability in the market and is encouraging, along with the positive mid-Aug GDT auction, if you are thinking of marketing your property this spring. Peter Barnett AREINZ - Rural Sales B.Com (Ag), Nat.Dip R/E, selling farms for 16 years. Peter and Nicola Barnett, Jamie Proude and Blair Stevens set up their own business NZR 2.5 years ago. It's been the best business decision we've made! Potaka Station sale shows depth of market The recent sale of Potaka saw buyers coming from far and wide. With parties inspecting from all over NZ and offshore, it showed the shortage of larger sized properties available across the country. New NZR Ohakune office in prime location The new Ohakune office, owned by Jamie and Sarah Proude, recently opened on the busy corner of the mountain road and SH49. With a team of six they are making their presence felt in town and country. Peter Barnett AREINZ | Rural Sales | B.Com(ag). Nat. Diploma Real Estate | 027 482 6835 | 06 323 4434 | [email protected] NZR | 20 Kimbolton Road Feilding 4702 | www.nzr.net.nz | NZR Limited | Licensed REAA 2008 Disclaimer. All opinions and analysis are based on information believed to be authentic and reliable, however we offer no invitation to anyone to rely solely on this information and recommend seeking professional advice.
Transcript of RURAL PROPERTY UPDATE Manawatu & Rangitikei …...Peter Barnett AREINZ - Rural Sales B.Com (Ag),...
Peter BarnettManawatu & Rangitikei Spring 2016
RURAL PROPERTY UPDATE
Less farms coming on the market = less sales = prices remaining firmThe number of farms sold in the Manawatu/Rangitikei region eased over the past 12 months from the previous season, primarily due to a lack of properties on the market.
Similar to last season there were good transaction numbers prior to Christmas, but in the first half of 2016 few new properties came forward to the market. The lower number of listings has meant that those properties new to the market are generally receiving good enquiry numbers and results as a consequence.
Some parts of the market have seen strong activity; the rise in both manuka honey and carbon unit prices has seen suitable properties attracting strong competition and price realisation. While this tends to be on harder types of hill country, these good sales are releasing capital, some of which moves into other parts of the land market.
We have recently seen with the sale of Potaka Station near Feilding, that there is still strong buyer enquiry from the south island, for the right property.
More property being sold than being listed - a long term trendThe reduction in rural properties for sale is a long term trend that has developed since the Global Financial Crisis. The above graph tracks the number of rural properties advertised for sale across the country at the end of June each year on NZ's largest rural website, nzfarms.co.nz. While number of sales has steadily increased over this period (see top graph), the number of new listings has not kept pace, resulting in the number of farms on the market each winter dropping by 65% over this period. So why is this? The answer we think is a combination of things including a large "hangover" of unsold property in 2010 post GFC, the continued aggregation of farmland vs "trading up" and part of a long term cycle that farm ownership is. So is this the new norm? - while I'm sure buyers would enjoy more choice at times, it does create stability in the market and is encouraging, along with the positive mid-Aug GDT auction, if you are thinking of marketing your property this spring.
Peter Barnett AREINZ - Rural SalesB.Com (Ag), Nat.Dip R/E, selling farms for 16 years. Peter and Nicola Barnett, Jamie Proude and Blair Stevens set up their own business NZR 2.5 years ago. It's been the best business decision we've made!
Potaka Station sale shows depth of marketThe recent sale of Potaka saw buyers coming from far and wide. With parties inspecting from all over NZ and offshore, it showed the shortage of larger sized properties available across the country.
New NZR Ohakune office in prime locationThe new Ohakune office, owned by Jamie and Sarah Proude, recently opened on the busy corner of the mountain road and SH49. With a team of six they are making their presence felt in town and country.
Peter Barnett AREINZ | Rural Sales | B.Com(ag). Nat. Diploma Real Estate | 027 482 6835 | 06 323 4434 | [email protected]
NZR | 20 Kimbolton Road Feilding 4702 | www.nzr.net.nz | NZR Limited | Licensed REAA 2008
Disclaimer. All opinions and analysis are based on information believed to be authentic and reliable, however we offer no invitation to anyone to rely solely on thisinformation and recommend seeking professional advice.
Small Farm OpportunitySituated just 12km NW of Dannevirke and an easy 58km commute to Palmerston North. The land is a mix of some flat, rolling and steeper hill, all well fenced into 18 main paddocks. Plus GST if any.
Quality BarelandThese highly productive Kairanga and Ohakea Loams near Bunnythorpe, have been farmed by the same family for over 125 years. Solid fertiliser history, areas of new pasture, clay tiled in past. Eleven paddocks and hayshed.
Potaka Station, FeildingPotaka Station is blessed with a natural balance of flat and cultivatable country to complement the breeding hills, situated 30km north of Feilding.
Add to this over 30 years of significant capital development by the current owner and the result is a high performing breeding and finishing unit that few can rival.
Awaiti, CheltenhamSituated just 13km north of Feilding, Awaiti is the ultimate livestock finishing and wintering property, due to its balance of quality soils, infrastructure and water supply.
The predominant soil types are the free-draining and fertile Manawatu sandy and silt loams.
Tender Closes 3pm 15th Sept 2016, CR Law, Manchester St, Feilding.
SOLD
NEW
LIST
ING
SOLD
Peter Barnett AREINZ027 482 6835 | 06 323 4434 [email protected] Limited | Licensed REAA 2008
Peter Barnett AREINZ027 482 6835 | 06 323 4434 [email protected] Limited | Licensed REAA 2008
Peter Barnett AREINZ027 482 6835 | 06 323 4434 [email protected] Limited | Licensed REAA 2008
Peter Barnett AREINZ027 482 6835 | 06 323 4434 [email protected] Limited | Licensed REAA 2008
1,181 HATender - Soldwww.nzr.nz/F056
116.2 HATenderwww.nzr.nz/F068
20.96 HAAsking Price $489,000www.nzr.nz/F047
45.6 HARV $1,560,000www.nzr.nz/F040
Great Wintering UnitThis bareland unit, near Bulls, is well set up for cattle. The pastoral area is approx 135 ha of flats and low ridges with the balance mainly in pines. Served by a quality set of cattle yards, the property is laned with plentiful stock water.
Larger LifestyleAt Colyton, a centrally located 3 room building, double glazed, insulated with bathroom, an implement/woolshed, cattle yards, horse arena, good subdivision and extensive drainage. Plus GST if any.
UNDER
CONTR
ACT
Peter Barnett AREINZ027 482 6835 | 06 323 4434 [email protected] Limited | Licensed REAA 2008
Peter Barnett AREINZ027 482 6835 | 06 323 4434 [email protected] Limited | Licensed REAA 2008
188.9 HAPrice By Negotiationwww.nzr.nz/NZR021
8.49 HAAsking Price $480,000www.nzr.nz/F063
