The rural real estate market is off to a promising start in 2025, according to PGG Wrightson’s General Manager for Real Estate, Peter Newbold.
Speaking to The Country’s Jamie Mackay, Newbold expressed optimism for steady growth following what he described as “one of the largest market troughs in history”.
“November and December [saw] record sales, [with] a great spread of properties and average prices up on the previous year,” Newbold said.
He highlighted an increase in sales of high-value properties, with transactions in the $5 million to $20 million range becoming more common.
Newbold felt the last quarter of 2024 was “probably one of the best periods…in the past decade.”
With lamb prices rising significantly recently, Newbold said this was a “positive news story” that would “likely motivate property sales”.
While dairy remained a strong performer — with a forecast $10 Fonterra payout still firmly on the table — Newbold dismissed the need for significant dairy farm conversions, describing the current sector mix as “stable”.
The pace of sheep and beef farm sales to forestry remained muted into 2025, which Newbold viewed as a positive.
However, he said the challenge persisted for vendors to adjust to new less-competitive, un-inflated prices.
Pictured: A lucrative Gold Kiwifruit Orchard and substantial home in Awakeri.
In terms of the horticulture sector, Newbold felt kiwifruit in particular, was showing signs of renewed activity after a quiet 18 months.
“Our feeling [in the office] is we’re going to see more listings and more activity, and that market moves forward again, after a period of not much activity,” he said.
“We see the coming season looking strong.”
Pictured: The perfect, four bedroom, three bathroom family lakefront home in Te Anau.
Newbold noted that emerging regional markets such as Te Anau in northern Southland were experiencing a surge in interest partially due to its appeal for holiday homes.
“If you haven’t been to Te Anau, you should,’ Newbold advised.
“It’s a lovely town with great facilities…and a wonderful little community.”
On the livestock front, Newbold reported increased positivity, with strong cattle and lamb prices boosting farmer profitability.
He said the challenge was meeting demand, with some areas facing stock shortages after a strong season.
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