West Coast Market Update

• Published date: 12 April 2023
• Publication title: West Coast Farming Times, The

This has reduced the buyer pool for properties offered to market, with one or two genuine buyers operating as the new normal

Buying interest from out of town buyers has increased and PB has completed several transactions in the South Island this season where buyers have originated from the North Island.

All West Coast rural sales (20ha+) season to date (February 2023) have totalled $16.8m with 14 sales. The median price sits at $16,694/ha up slightly on 2021 sales from $13,888.

Looking ahead it is hard to envisage the current pressures on the rural land market changing in a hurry and we probably should consider this the 'New Normal' for buyers. So as buyers seek to gain a competitive advantage over the rest of the market, we...