Peter Newbold, General Manager Livestock & Real Estate for PGG Wrightson.
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Interest in sheep and beef properties is on the up, with enthusiastic enquiries coming in over the past couple of months, according to PGG Wrightson’s General Manager for Real Estate, Peter Newbold.
“It’s been fantastic,” he told The Country’s Jamie Mackay.
Newbold had a theory about the recent increase.
“We’ve had solid sales there, and I think one of the good things is that a lot of, let’s call it older stock, has been cleared.
“So that means as we come into late winter, early spring, we’re going to have a new range of sheep and beef listings.”
He said this was a welcome change for a sector that had been “quiet for two or three years”.
“Now we’re seeing some of those people being able to move on and do something else.
“I think it’s really healthy.”
Mackay said rural real estate had had a “tough few years” in general.
He asked Newbold if the past year had been the best in a decade.
“I wouldn’t say the past decade, but the last slump was longer than normal [and] we’ve just come out of it,” Newbold said.
He reckoned the last quarter was the strongest in six years.
“I wouldn’t say it’s booming because we’ve come off a low base, but definitely, it’s strong and solid.
“I think we’re in for a real solid run over the next two to three years.”
Meanwhile, the $10 payout bodes well for dairy properties, with an upturn in sales.
Newbold said a limited supply was a challenge for purchasers, and while there were buyers out there, they were also limited
He said this was something to keep an eye on as spring approached.
“So, it’ll be an interesting period in September, October.”
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On a positive note, Newbold said it was good to see dairy farms being sold for yield rather than capital gains.
In further good news, Newbold said, like dairy, the long-term outlook for kiwifruit properties was “really solid”.
“We’re going to see a lot of activity as we get into those summer months and into next year.
“So that’s looking really good.”
Also in today’s interview: Newbold discussed the thorny issue of carbon farming and celebrated a good year for PGG Wrightson’s livestock team.
With renewed confidence across sheep and beef, dairy, and horticultural sectors, now is a smart time to explore what’s on offer.
Visit pggwre.co.nz to view listings and tap into the latest rural market insights from a local team with nationwide reach.