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Farm Sales Still Soft

The rural property market is still in a bit of a drought.

Latest figures from the Real Estate Institute show no significant lift in either farm sales or prices.

The national median sale price rose to $1 million for the three months to April, slightly up on the three months to March, but still $45,000 down on the February average.

Only 267 farms sold, almost the same as a year ago, but only about a third of the sales in the same period in 2008.

The median price for dairy farms was $3.6 million, compared with $3.2 million last year and $3.9 million in the period to April 2008.

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