For those with long memories, experience and some history, the current market is not new; we continue to promote, market and transact property. It's the techniques and marketing that are changing.
It is apparent that buyers are present in all property classes and types; however, the deals are taking longer to negotiate, finance requires more effort to obtain and anything but the very top properties have experienced an easing in value.
Certainly, those buyers who have pre-engaged with their financial backers and have clear concepts around affordability and budgets will reap the rewards.
I can't stress enough that vendors willing to promote their properties and listen to the market are achieving a sale. For those who are selling to buy, the sale price of their farm and the purchase price of their new farm have, in all likelihood, been negatively affected by the same percentage. Selling and buying on the same market is accepted as the absolute best practice.
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DAIRY
Recent negative commentary and extended days on the market has been balanced by three significant lifts on online dairy auction, a change of government and increasing positive sentiment. Reduced numbers of buyers are engaging, but with greater clarity regarding the style and class of dairy farm they seek.
The massive quantities of dairy farms offered for sale in previous years have not occurred in the spring of 2023, sharpening buyers' focus and limiting the competition for vendors. Without question, the specifics around location, soil type, infrastructure, contour and production capability remain at the forefront of buyers' minds. As always, the purchaser's expectation of price or perception of value ultimately determines a sale.
DRYSTOCK
The concept of "changing land use" has been one of the biggest drivers on the rural landscape and the most significant impact on our small rural towns and communities.
A significant change in land use is the establishment of forestry plantations, permanent carbon farming and mixed forestry models.
Some misinformation around values paid by forestry investors has confused some drystock owners, and a change of government, shift in carbon values and reviewed legislation has further clipped the heels of the forestry sector. We are presenting some high-profile quality drystock units to the market this spring, and the need for the properties to be exposed to the full market scale is paramount.
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Without a doubt, the power of the Bayleys 50-year-old brand is in its people. Our people are exceptional, professional, focused, disciplined country professionals. With our agents focusing solely on country, lifestyle and horticulture properties, we're active from Helensville to Kaitaia and everywhere in between.
We are always looking for "good talent" to join our team, the sort of talent that enjoys being a part of their community, loves Northland, and identifies with the rural space and people more than desks or computers!
Call for a confidential chat if running your own rural service-orientated business under NZ's number 1 rural agency sounds exciting.
- Article supplied by Bayleys
