Dairy farm sales drop 29% as tighter lending conditions weigh

Mon, 20 Jul 2020

Dairy farm sales slumped by almost a third over the past year as farmers contended with an uncertain market and tighter lending conditions. That contributed to an overall decline of 13.9 percent in rural property transfers across the country to a total of 1,154 farms in the 12 months ended June 30.Data from the Real Estate Institute of New Zealand showed dairy farm sales fell by 29 percent, grazing farms sold dropped by 19.2 percent and finishing farm sales were down 21.9 percent. Meanwhile, 7.7 percent more arable...

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