The country’s Jamie Mackay is joined by Peter Newbold, PGG Wrightson’s Managing Director for Livestock and Rural Real Estate, to take a look at the rural real estate market this month, with New Zealand on Alert Level 4.
Mackay asks if this lockdown will encourage Aucklanders to invest in rural property. Newbold believes there will be some movement to the province of New Zealand, and not just because of the lockdown, there is a good sense of community, a better lifestyle and a more reasonable cost of living.
The livestock season slows down each year at this time of year due to lambing and calving, and is expected to experience minimal disruption due to the lockdown. Newbold adds that wellness is the only reason to visit the farms at this point.
Newbold reminds Mackay that when New Zealand goes to Alert Level 3, access to farms is still limited and sales fleets can be operated with strict protocols. Through Bidr, the auction yards have the ability to run auctions online, allowing those outside the region to purchase livestock.
Mackay asks if people are still looking for rural investment throughout the lockdown. Newbold confirms that people from all walks of life are definitely looking and there will always be activity going as spring approaches.
ewbold adds that there has been recent interest in the dairy industry and there have been sales. Mackay asks if the rural market will look like the peak of 2014.
Newbold believes this is possible and if you look at the position the world is in people will see a lot of value in rural properties, especially in New Zealand.