High-value sales, rising livestock prices, and renewed horticulture activity drive optimism
The rural real estate market in New Zealand has entered 2025 on a high note, according to Peter Newbold (pictured above), general manager for real estate at PGG Wrightson.
Newbold described recent developments as encouraging, following what he called “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,” he told The Country’s Jamie Mackay.
High-value property sales have been particularly active, with an increasing number of transactions in the $5 million to $20 million range. Newbold said the final quarter of 2024 was “probably one of the best periods… in the past decade.”
Rising lamb prices are helping to fuel this optimism, with Newbold calling the trend a positive news story likely to support further property sales. Dairy farming remains a stable segment, with Fonterra’s forecast payout of $10 per kilogram of milk solids bolstering confidence.
Sales of sheep and beef farms for forestry purposes have slowed entering 2025, which Newbold said was a welcome development. Yet, he acknowledged that vendors are still adjusting to more subdued market conditions and lower prices following the highs of past years.
The horticulture sector, particularly kiwifruit, is showing signs of recovery after 18 months of limited activity. Newbold said he expects the coming season to bring more listings and transactions in this space.
“Our feeling 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.”
Emerging regional markets such as Te Anau in northern Southland are also drawing increased attention, particularly for holiday homes.
On the livestock side, Newbold noted stronger cattle and lamb prices, which are lifting farmer profitability. However, he warned that some areas are experiencing stock shortages after a robust season, making it challenging to meet demand.
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