REAL ESTATE

Auckland And Northern Rural Property Values On The Rise

Wednesday 22 February 2012, 12:20PM
By Barfoot & Thompson
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The sale numbers and values achieved for farms and lifestyle properties in Greater Auckland and Northland are on the increase.

In the fourth quarter of 2011, the average value of sales each month was $23.1 million, 9 percent ahead of its equivalent in 2010, and sales numbers were a third higher.

“That trend continued in January,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“In January $20.7 million worth of rural and lifestyle land was sold, the highest January total for four years, and up 26 percent on last January’s total.

“The number of properties sold was also up by 44 percent on January 2010’s sales numbers.”

“Values have recovered significantly from their low point in 2008, with the average total of monthly sales for 2011 being a third higher than it was three years ago.

“The demand for dairy farms is increasing, particularly in Northland.

“There is also strong interest in lifestyle properties, especially those valued at under $1 million. The area of greatest interest is Rodney.”