Weather, costs and resentment of government hit farm sales

Annual on-farm inflation for dairy farmers is 16.5% says REINZ. (Image: Getty)

Wed, 21 Sep 2022

Farm sales are falling as bad weather and cost escalation weigh on buyers, data from the Real Estate Institute of NZ (REINZ) showed. There were 204 farm sales in the three months to Aug 31, down 38% compared with the same period in 2021 and 43% versus the same three months in 2020.A total of 1,545 farms were sold in the year to August 2022, 278 fewer than were sold in the year to August 2021.The reasons likely include “an increasing degree of caution mingled with emerging resentment towards central government, inexorable increases in...

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