Property Report: Rural Property Market at its Peak
The Country’s Jamie Mackay is joined by PGG Wrightson’s General Manager for Rural Real Estate, Peter Newbold, to take a look rural property this month.
Newbold talks about how the selling is strong and the value is good in the rural property market with great prices in all sectors. The last rural property peak was around 2013-14.
The dairy property market has recently seen reluctant interest; however, the recent property boom has increased attention, particularly by the government sector. Newbold adds that the dairy properties are having their best season in a long time with people wanting to invest in the $10 million+ sector.
Sheep and beef properties continue to be prosperous, particular with continued interest from buyers and investors in metro areas.
Horticulture properties continue to be a kingpin in the market. Mackay notes the immense values that some of these properties are going for when they eventuate onto the market. Newbold adds that there are a number of quality orchards that help the market to move forward positively.
Newbold anticipates a surge of Aucklanders wanting to relocate into the rural sector once they are allowed to leave their lockdown in December.
Click the play button for the full interview.