January 22, 2025 • 5 mins
The GM of PGG Wrightson Real Estate takes his monthly look at the state of the rural market, with 2025 promising to be a good year for property.
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Speaker 1 (00:00):
Monthly here on the Country we take a look at
the state of the rural land markets with the GM
or PGG rights in real estate Peter and Newbold. Hey Peter,
Happy new year, Welcome back to the country. Good afternoon.
I reckon twenty twenty five is going to be a
good year for property? What do you reckon?
Speaker 2 (00:18):
Yeah, look, I think it's going to be good. It'll
be steady growth. I think all through the year we've
come off probably one of the biggest frosts in history.
So you know, if you look at all the signs
out there, things look really positive and and you know,
I was just having a look at you know, November December,
and it was record sales and you know, great spread
(00:38):
of properties. Average prices were up up on the previous year.
I think a couple of critical things that indicate where
we're heading is a lot more properties in the plus
five ten and twenty million marks. And you know, if
you look at the last quarter and I think we'll
everyone to be in the same boat. You know, it's
(00:59):
probably one of the best periods we've had in the
last decade. So I think things are looking good, are
coming off, but you know that's not it won't be
a boom, but I think it'll be.
Speaker 1 (01:08):
Steady well, and that's what we want. We don't want
a boom bus cycle. Yeah, I'm hearing anecdotally stories of
some of those larger dairy properties moving in excess of
twenty million dollars. You know what I reckon. The good
news story to kick off twenty twenty five is the renaissance,
the recovery, hopefully for the sheep farmers. Admittedly, walls got
a long way to go, but it's pointing in the
(01:29):
right direction. But lamb prices are holding up. I got
a text from my old mate John mcavinie. He sold
store lambs for one hundred and fifty bucks last year.
He got ninety three dollars for them, so that bodes
well not only for the breeders, but also hopefully the
finishes can make a buck out of it as well.
Speaker 3 (01:48):
Yeah.
Speaker 2 (01:49):
Look, it's a positive news story and I was just
looking at some stats today.
Speaker 3 (01:53):
You know, the average is around one.
Speaker 2 (01:54):
Hundred and ten, but I've heard in the South as
high as one sixty. So that's really good for those
sheeting farmers. You know, they need some income and it
will probably motivate some sales as well, and so I
think it puts things in a good space. And so
you know, all around we know if the farmers are
doing well, that'll stimulate property sales. And I think you're right.
(02:14):
I think we'll see more interest in sheep and beef
and grazing, and I think a lot of that comes
off the back of the aera. You know, dairy is
going well. That seems to flow through to those other
sectors and Provincial New Zealand, Hey, do.
Speaker 1 (02:27):
You know what one of the really interesting things that
we're going to have to deal with this share is.
And because I think it was Cameron Bagriy who threw
this out for discussion, he said, we need to do
more dairy conversions. What do you reckon?
Speaker 2 (02:41):
Ah, I go with that unscripted question. No, look, I
think the mix is probably right at the moment. I
think I think we will see things move between sectors,
but I think it's pretty stable at the moment. And
again we don't want to see a big splue in
that area.
Speaker 3 (03:01):
But yeah, I don't think we'll see a lot of change.
Speaker 1 (03:03):
Are we seeing any sheep and beef properties now going
to forestry?
Speaker 2 (03:09):
It's slowed right up, So I think that's and you know, personally,
I think that's a good thing. I guess the big
challenge the area is revisiting the prices because a lot
of the sales in the past year have been off
the back of forestry. So yes, there are some sales
taking place, but not in the same numbers.
Speaker 3 (03:26):
As that we've seen in the previous years.
Speaker 2 (03:28):
So yeah, sales are taking place, but not in the
same numbers.
Speaker 1 (03:31):
What about horticulture, Can we fruits a good news story
at the moment? Are we seeing renewed interest in that sector?
Speaker 2 (03:38):
Yeah, we're talking about it the other day at work,
and we think we're going to see some renewed activity
in this area, and we see the coming season looking
strong and that'll flow through over the next twelve or
only months because if you look at it, it's been
pretty quiet in the previous eighteen months. So yeah, our
feeling is that we're going to see more listings, more
(04:00):
activity in that market move forward again after a period
of not a lot of activity. So I think that's
a good thing.
Speaker 1 (04:07):
You sent me a text this morning and you said
look out Wanaka, Queenstown, Talpo and the Mounts and Northland
because tianaw Tiano in Northern Southland is on the move.
It's not a mile away from my home patch, to
be perfectly honest, lovely little spot.
Speaker 3 (04:26):
Yeah. Look, it's interesting.
Speaker 2 (04:28):
You know. We often talk about all these big, big
areas like the Wannakers and the Tapos and the mounts,
but if you haven't been to Tiana, you should and
it's interesting. Things are moving there, I think, in bigger
numbers than we've seen over the last probably decade. Lovely town,
great facilities and if you want a holiday home or
you want to move there.
Speaker 3 (04:48):
I think it's a wonderful little community.
Speaker 1 (04:50):
Well there you go, a shameless plug for Northern Southland
or for the Audland. Just to finish on you not
only run the real estate division at PGG Rights and
you also run the livestock to Now, what are you
hearing back from your guys on the ground. There's a
bit of positivity out there.
Speaker 2 (05:05):
Yeah, look, it's the most positive it's been for a
long time.
Speaker 1 (05:08):
You know.
Speaker 3 (05:08):
Cattle prices are good.
Speaker 2 (05:10):
We're seeing you know, lamb prices moving up, which makes
everybody more profitable. I think the biggest challenge we've got
in some areas now is finding enough stock. And you know,
if you look. Over all, it's been a wonderful season
for everyone. So yeah, that's the challenge, Jamie. If you've
got any lambs in.
Speaker 3 (05:28):
The back paddock, give me a bell.
Speaker 1 (05:31):
No, I haven't, unfortunately. Hey Peter Newbolt, always good to
catch up. We'll catch you again next month as we
look at the state of the rural real estate market.
Speaker 2 (05:40):
Go well, yeah, cheers Jamie, have a good afternoon.
Monthly here on the Country we take a look at
the state of the rural land markets with the GM
or PGG rights in real estate Peter and Newbold. Hey Peter,
Happy new year, Welcome back to the country. Good afternoon.
I reckon twenty twenty five is going to be a
good year for property? What do you reckon?
Speaker 2 (00:18):
Yeah, look, I think it's going to be good. It'll
be steady growth. I think all through the year we've
come off probably one of the biggest frosts in history.
So you know, if you look at all the signs
out there, things look really positive and and you know,
I was just having a look at you know, November December,
and it was record sales and you know, great spread
(00:38):
of properties. Average prices were up up on the previous year.
I think a couple of critical things that indicate where
we're heading is a lot more properties in the plus
five ten and twenty million marks. And you know, if
you look at the last quarter and I think we'll
everyone to be in the same boat. You know, it's
(00:59):
probably one of the best periods we've had in the
last decade. So I think things are looking good, are
coming off, but you know that's not it won't be
a boom, but I think it'll be.
Speaker 1 (01:08):
Steady well, and that's what we want. We don't want
a boom bus cycle. Yeah, I'm hearing anecdotally stories of
some of those larger dairy properties moving in excess of
twenty million dollars. You know what I reckon. The good
news story to kick off twenty twenty five is the renaissance,
the recovery, hopefully for the sheep farmers. Admittedly, walls got
a long way to go, but it's pointing in the
(01:29):
right direction. But lamb prices are holding up. I got
a text from my old mate John mcavinie. He sold
store lambs for one hundred and fifty bucks last year.
He got ninety three dollars for them, so that bodes
well not only for the breeders, but also hopefully the
finishes can make a buck out of it as well.
Speaker 3 (01:48):
Yeah.
Speaker 2 (01:49):
Look, it's a positive news story and I was just
looking at some stats today.
Speaker 3 (01:53):
You know, the average is around one.
Speaker 2 (01:54):
Hundred and ten, but I've heard in the South as
high as one sixty. So that's really good for those
sheeting farmers. You know, they need some income and it
will probably motivate some sales as well, and so I
think it puts things in a good space. And so
you know, all around we know if the farmers are
doing well, that'll stimulate property sales. And I think you're right.
(02:14):
I think we'll see more interest in sheep and beef
and grazing, and I think a lot of that comes
off the back of the aera. You know, dairy is
going well. That seems to flow through to those other
sectors and Provincial New Zealand, Hey, do.
Speaker 1 (02:27):
You know what one of the really interesting things that
we're going to have to deal with this share is.
And because I think it was Cameron Bagriy who threw
this out for discussion, he said, we need to do
more dairy conversions. What do you reckon?
Speaker 2 (02:41):
Ah, I go with that unscripted question. No, look, I
think the mix is probably right at the moment. I
think I think we will see things move between sectors,
but I think it's pretty stable at the moment. And
again we don't want to see a big splue in
that area.
Speaker 3 (03:01):
But yeah, I don't think we'll see a lot of change.
Speaker 1 (03:03):
Are we seeing any sheep and beef properties now going
to forestry?
Speaker 2 (03:09):
It's slowed right up, So I think that's and you know, personally,
I think that's a good thing. I guess the big
challenge the area is revisiting the prices because a lot
of the sales in the past year have been off
the back of forestry. So yes, there are some sales
taking place, but not in the same numbers.
Speaker 3 (03:26):
As that we've seen in the previous years.
Speaker 2 (03:28):
So yeah, sales are taking place, but not in the
same numbers.
Speaker 1 (03:31):
What about horticulture, Can we fruits a good news story
at the moment? Are we seeing renewed interest in that sector?
Speaker 2 (03:38):
Yeah, we're talking about it the other day at work,
and we think we're going to see some renewed activity
in this area, and we see the coming season looking
strong and that'll flow through over the next twelve or
only months because if you look at it, it's been
pretty quiet in the previous eighteen months. So yeah, our
feeling is that we're going to see more listings, more
(04:00):
activity in that market move forward again after a period
of not a lot of activity. So I think that's
a good thing.
Speaker 1 (04:07):
You sent me a text this morning and you said
look out Wanaka, Queenstown, Talpo and the Mounts and Northland
because tianaw Tiano in Northern Southland is on the move.
It's not a mile away from my home patch, to
be perfectly honest, lovely little spot.
Speaker 3 (04:26):
Yeah. Look, it's interesting.
Speaker 2 (04:28):
You know. We often talk about all these big, big
areas like the Wannakers and the Tapos and the mounts,
but if you haven't been to Tiana, you should and
it's interesting. Things are moving there, I think, in bigger
numbers than we've seen over the last probably decade. Lovely town,
great facilities and if you want a holiday home or
you want to move there.
Speaker 3 (04:48):
I think it's a wonderful little community.
Speaker 1 (04:50):
Well there you go, a shameless plug for Northern Southland
or for the Audland. Just to finish on you not
only run the real estate division at PGG Rights and
you also run the livestock to Now, what are you
hearing back from your guys on the ground. There's a
bit of positivity out there.
Speaker 2 (05:05):
Yeah, look, it's the most positive it's been for a
long time.
Speaker 1 (05:08):
You know.
Speaker 3 (05:08):
Cattle prices are good.
Speaker 2 (05:10):
We're seeing you know, lamb prices moving up, which makes
everybody more profitable. I think the biggest challenge we've got
in some areas now is finding enough stock. And you know,
if you look. Over all, it's been a wonderful season
for everyone. So yeah, that's the challenge, Jamie. If you've
got any lambs in.
Speaker 3 (05:28):
The back paddock, give me a bell.
Speaker 1 (05:31):
No, I haven't, unfortunately. Hey Peter Newbolt, always good to
catch up. We'll catch you again next month as we
look at the state of the rural real estate market.
Speaker 2 (05:40):
Go well, yeah, cheers Jamie, have a good afternoon.
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