The median price per hectare for dairy farms has tumbled about $11,000 since a year ago, and there were no dairy farms sold at all in Canterbury or on the West Coast in the last three months.
The Real Estate Institute (REINZ) also reported that a “good selection” of Southland dairy farms had come on the market in the three months ended February.
Compared to February 2015, the dairy farm price index has fallen 20.9 per cent.
In the three months to February 2015, the median dairy farm price was $45,105 but that had dropped to $36,687 in the three months to February 2016.
In addition, the number of sales fell from 97 in 2015 to 76 in 2016, for the same period.
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