Farms worth 3.1% less
Farmland in New Zealand dropped in value 3.1 per cent on average for the six-month period ended December. The number of farms sold jumped 17 per cent during the period, 26 changing hands in the Canterbury region. Of these 17 were fattening units, seven arable units, and one dairy farm which was sold twice. On a national basis arable property dropped in value 9 per cent, horticultural land was down 6 per cent, grazing property 3 per cent, and fattening farms 2 per cent. In total 246 notices of sale were received in the second half of last year, compared with 157 in the first six months, and only 72 in the second half of last year. Half of the sales were to existing farmers, and nearly one-third more to new farmers. Fewer business people are buying farms.
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Press, 10 February 1989, Page 3
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142Farms worth 3.1% less Press, 10 February 1989, Page 3
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