Farm sales in two engine rooms of New Zealand Agriculture - Waikato and Canterbury have dropped almost 50 percent this spring.
Property Brokers Rural General Manager Conrad Wilkshire told Rural Exchange farm sales were back by about a third on last year for the July to November period.
“There’s no question when you’re looking at the cost of funding, it’s having an impact on what people can afford to pay, that's just the reality of it all,” Wilkshire said.
Manawatu and the West Coast were bucking the trend, with farm sales actually ahead of last year.
“The West Coast continues to offer very good value for money for those looking for a first farm, their sales actually running at two times last year at about 11 sales for the Spring so far which is actually a big number for the coast.”
Listen to the full interview with Property Brokers GM of Rural Conrad Wilkshire and Rural Exchange above.
This article was produced in partnership with TodayFM and Property Brokers.