Farms sales have stayed in the doldrums according to the latest figures from the Real Estate Institute of New Zealand.

Its Rural Market Report shows that in the three months to the end of June 302 farms were sold, up from 285 in the same period last year but still well behind the 711 of 2008.

Prices have moved little, with the median sale price steady at $1,035,000, but this is well down on the same period in previous years.

REINZ spokesman Murray Cleland says the lacklustre numbers should pick up over spring.

“Traditionally in New Zealand as we go into the spring period, I’d anticipate that there will be an uplift in sales, but who knows?

"It’s been particularly slow recently, although people in the dairy industry will be banking on a higher milk payout.”