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New Zealand rural property prices continue to rise

Posted on 18 February 2013

New Zealand rural property prices continue to rise as demand for property outstrips supply. Real Estate Institute of New Zealand data Monday show the median price per hectare for rural land was up 18% in the three months to January 2013 compared with the year-earlier period. There were 45 more farm sales, a rise of 12.7%, during the period.
“The supply of listings is barely able to keep up with demand, with demand for good quality properties outstripping supply,” Brian Peacocke, Reinz’s rural market spokesman, said in a press release. “This situation is unlikely to change in the next few months as farmers begin to make commitments for the forthcoming season.”……………………………………….Full Article: Source


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