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Property Report: Rural sector a safe place to invest.

August 2020

The Country's Jamie Mackay is joined by PGG Wrightson's General Manager for Rural Real Estate Peter Newbold to take a look at the rural property market this month.

The market has had a few good months, said Newbold, who explained that July, which was usually a quieter month, had been the best it's been in the past six years.

Not only that, but August was tracking to be just as good.

There was still an increase of activity in the rural sector, particularly for lifestyle properties - especially those closer to larger metropolitan communities, said Newbold.

Mackay asked about interest in farming properties.

At the moment, the key properties were sheep and beef, said Newbold. There were also signs to indicate horticulture was on the rise.

Mackay noted there was evidence to suggest that lending institutions were "playing ball for the right clients."

Newbold agreed, adding that there seemed to be more of an appetite to lend money and the rural sector was a safe place to invest compared to other areas that are under pressure from COVID-19.