Property Report: Lockdown won’t stop the Rural Market
The Country’s Jamie Mackay is joined by PGG Wrightson’s General Manager for Livestock and Rural Real Estate Peter Newbold to take a look at the rural property market this month with New Zealand being at alert level 4 lockdown.
Mackay queries if this lockdown will encourage Aucklanders to invest in rural property. Newbold thinks there will be some movement to provincial New Zealand, and not only because of lockdown, there is a good sense of community, a better lifestyle, and a more reasonable cost of living.
The livestock season annually slows down this time of year due to lambing and calving, and should see minimal disruption due to the lockdown. Newbold adds that welfare is the only reason to be visiting farms at this stage.
Newbold reminds Mackay that when New Zealand moves to alert level 3 that access to farms is still limited and sale yards can be operated with strict protocols. Thanks to Bidr, sale yards have the capacity to broadcast auctions online, allowing those out of region to purchase livestock.
Mackay asks if people are still looking for rural investments throughout lockdown. Newbold confirms that people from all walks of life are definitely still looking, and that there will still be activity as spring approaches.
ewbold adds that the dairy industry has quietly generated interest recently and there have been sales taking place.Mackay asks if the rural market will be anything like the peak in 2014.
Newbold thinks that this is possible and if you look at the position the world is in, people will see a lot of value in rural properties especially in New Zealand.
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