Fine wool farms in demand
PA Oamaru Demand for farms producing fine wools was demontrated in two recent North Otago farm sales, worth more than $2 million, to Australian investors. Shelton Downs, a 2832 ha property at Omarama, sold for about $750,000. Mount Stalker, an 8094 ha property in the Kakanui Mountains, sold for about $1.5 million. Further north in Canterbury, more than 20 farms have been bought by overseas interests in the last nine months. This has prompted Federated Farmers to call for a ban on land speculation by overseas buyers. However, a Wrightson rural real estate spokesman for North Otago, Mr Jack Ryder, does not think there is harm in foreign investors buying local property. “It helps farming in the long term if you can make a good sale... the land isn’t going out of New Zealand, it’s not going anywhere,” he said.
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Press, 26 July 1989, Page 3
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145Fine wool farms in demand Press, 26 July 1989, Page 3
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