Weather and new season lambs
We are now on the home straight of 2011 and what a year it has been with major earthquakes, sovereign debt crisis in Europe, oil spillages and a long overdue Rugby World Cup Victory by our All Blacks and we still have an election to go!
Apart from the uncertainty from the Greek debt crisis and what it could potentially mean for us the rain continues to fall and the all indications are that new season lambs in the yards will be making over $ 100/head. All in all the 2011/12 farming year is shaping up to be a good one. This should feed in to buyer confidence for farm land.
A recent press release from The Real Estate Institute of New Zealand supports this , key findings from them were as follows:
- 56% increase in sales for the 3rd quarter of 2011 cf to 2010.
- Largest number of sales over the last two years.
- Listings in some areas are short.
- Good start to spring with favourable growing conditions in most areas
- Banks appear to increasing their appetite to lend on Rural Businesses
My take on the figures is that the Hawke’s Bay has seen an increase in all rural properties sold for the third quarter of 18 up from only 5 for the corresponding quarter in 2010. I am sure all local real estate companies would agree there is a noticeable shortage of larger scale properties on the market to what it is normally expected for this time a year.
Enjoy the spring!
Paul Evans Manager – Rural and Lifestyle
Filed under: Lifestyle