After an extended period of lacklustre activity, Northland’s rural property market is showing promising signs of recovery. However, farmers in the region seeking to sell are are reminded to maintain realistic price expectations to secure the best outcomes.
According to Northland Sales Manager for PGG Wrightson Real Estate, John Duder, November 2024 saw significantly more activity than in previous years, suggesting a positive shift in the market.
“It has picked up,” says John. “Pent-up demand is playing a key role, with genuine sellers and motivated buyers now reaching agreeable prices. Another factor driving the increase is improved access to rural financing, which had previously been a barrier to sales. In this more positive environment, when both parties are realistic and willing, sales are happening.”
A significant portion of sales involves neighbouring farmers expanding their operations by purchasing nearby properties, especially sheep and beef farms. The recovery of the dairy sector is also having a noticeable impact.
Pictured: 186 hectare top dairy farm in the heart of Kaipara.
“We’re seeing renewed interest in dairy properties,” John explains. “Some farmers who had been considering selling are now holding back to benefit from a strong season, encouraged by the increased dairy payout. At the same time, buyers are entering the market, hoping to acquire dairy farms while conditions are favourable.”
John warns that while waiting for further gains might seem appealing, it can be risky. “Selling in a rising market generally delivers the best outcomes. Holding out too long can lead to missed opportunities.”
Pictured: Recent data from REINZ backs up this surge in activity. In the three months ending November 2024, Northland recorded 23 farm sales, a significant increase from 13 farm sales during the same period in 2023. Lifestyle property sales also jumped, with 195 sales recorded in late 2024, compared to 123 in the same period the previous year.
John Duder says these numbers reflect a resetting of market expectations.
For vendors, the key to achieving a successful sale is setting a realistic price.
“If you’re serious about selling, you need to price your farm according to current market trends,” says John. “Recent sales have established clear pricing criteria, and those who align with these expectations are more likely to secure a favourable outcome.”
Pictured: A three bedroom, two bathroom lifestyle property on 32 hectares of land in Whareora.
With plenty of Northland farms listed for sale and a growing number of interested buyers, John expects steady sales throughout summer and into autumn.
Alongside rural properties, the residential and lifestyle property sectors in Northland are also experiencing an uptick in activity. Buyers seeking lifestyle blocks or family homes are stepping forward, adding to the overall market momentum.
Thinking of selling? Let’s talk!
If you’re considering selling your rural, lifestyle, or residential property, the team at PGG Wrightson Real Estate is here to help. With deep local market expertise and a commitment to helping farmers achieve great results, we’re ready to support you through the process.
Contact John Duder and the Northland team today to explore your options.
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