1 00:00:00,080 --> 00:00:03,320 Speaker 1: New data on farms sales. So the Real Estate Institute's 2 00:00:03,320 --> 00:00:05,400 Speaker 1: telling us WYCAT her top dairy sales for the year 3 00:00:05,480 --> 00:00:08,479 Speaker 1: ending September that's up eighteen percent, Southland up one hundred 4 00:00:08,480 --> 00:00:10,320 Speaker 1: and ten percent, if you can believe it, manumatu wang 5 00:00:10,320 --> 00:00:12,880 Speaker 1: and Nui medium price per hector is up almost fifty 6 00:00:12,960 --> 00:00:17,000 Speaker 1: eight percent. So Shane O'Brien, real Estate Institute Director rural spokesman, 7 00:00:17,280 --> 00:00:18,200 Speaker 1: is whether Shane. 8 00:00:18,000 --> 00:00:19,480 Speaker 2: Morning, Good morning, Mike. 9 00:00:19,640 --> 00:00:21,959 Speaker 1: So broadly, can we say sales are up end prices 10 00:00:21,960 --> 00:00:22,320 Speaker 1: are up? 11 00:00:23,200 --> 00:00:26,200 Speaker 2: Yes, you can say that, Mike. That's pretty evident. Right 12 00:00:26,200 --> 00:00:28,600 Speaker 2: across the market things are improving nicely. 13 00:00:28,560 --> 00:00:31,120 Speaker 1: And is demand outstripping supply broadly? 14 00:00:32,280 --> 00:00:34,360 Speaker 2: Broadly it is, Yes, it is, Mike. So far in 15 00:00:34,440 --> 00:00:37,080 Speaker 2: the season we've seeing strong demand, a lot of the 16 00:00:37,200 --> 00:00:40,200 Speaker 2: dairy farms coming to the market and the areas partict 17 00:00:40,240 --> 00:00:43,120 Speaker 2: there as you've mentioned, like Ketto, Southland and can to 18 00:00:43,159 --> 00:00:45,680 Speaker 2: Be where we're getting multiple offers coming in. So it's 19 00:00:45,720 --> 00:00:49,320 Speaker 2: an encouraging sign for saying some real confidence in the market. 20 00:00:49,440 --> 00:00:52,240 Speaker 1: Is it like the house market when things get bullish 21 00:00:52,280 --> 00:00:54,400 Speaker 1: and frothy, people go, well, it wasn't going to sell. 22 00:00:54,400 --> 00:00:55,840 Speaker 1: But I'll tell you what I'll give it a crack now. 23 00:00:55,880 --> 00:00:56,880 Speaker 1: Is there a bit of that or not? 24 00:00:57,480 --> 00:00:59,840 Speaker 2: Oh, definitely, And I think there's been some people so 25 00:01:00,200 --> 00:01:03,680 Speaker 2: out waiting for the market to perhaps hit its straps 26 00:01:03,880 --> 00:01:06,520 Speaker 2: and we're just seeing that now where we've probably got 27 00:01:06,560 --> 00:01:09,039 Speaker 2: more sellers coming to the market this year than we 28 00:01:09,120 --> 00:01:12,399 Speaker 2: have traditionally, but they've been waiting for the stir curve. 29 00:01:12,520 --> 00:01:17,600 Speaker 2: All dairy, No, not just dairy. I think DA it's 30 00:01:17,680 --> 00:01:19,640 Speaker 2: very much front and the center of the market and 31 00:01:20,319 --> 00:01:23,119 Speaker 2: is definitely driving it. But we're seeing some good activity 32 00:01:23,120 --> 00:01:26,440 Speaker 2: and rebound in the market and the horticultural sector that 33 00:01:26,560 --> 00:01:29,679 Speaker 2: are cultures, sillabit sluggers. They've got some headwinds with what's 34 00:01:29,720 --> 00:01:34,400 Speaker 2: happening internationally. But no, it's not just the dairy market. 35 00:01:34,760 --> 00:01:37,959 Speaker 1: Does deiry differentiate And the reason I asked this question 36 00:01:38,040 --> 00:01:40,600 Speaker 1: is I'm following with interest Sam Whitelocks selling his farm 37 00:01:40,640 --> 00:01:43,000 Speaker 1: and that's beef and it's in Hawks Bay and there's 38 00:01:43,040 --> 00:01:45,560 Speaker 1: that usual kind of go to the inner plant pine 39 00:01:45,560 --> 00:01:48,840 Speaker 1: trees and is it local is foreigners? Is dairy like that? 40 00:01:49,040 --> 00:01:51,280 Speaker 1: Does deiry ever get converted or is dairy dairy? 41 00:01:52,640 --> 00:01:56,320 Speaker 2: No? No, that we are seeing more farms being opened 42 00:01:56,360 --> 00:01:58,880 Speaker 2: up for a dairy conversion. It's been quite a topical 43 00:01:59,560 --> 00:02:03,480 Speaker 2: matter areas such a Southland and Kendby, but we're certainly 44 00:02:03,480 --> 00:02:06,120 Speaker 2: seeing more conversion occurring. We had quite a lot a 45 00:02:06,120 --> 00:02:08,959 Speaker 2: few years ago. It's pretty much been tempered at the 46 00:02:09,040 --> 00:02:12,760 Speaker 2: last three to five years. But it's a part of 47 00:02:12,760 --> 00:02:14,960 Speaker 2: the market, but it has been controlled right. 48 00:02:15,040 --> 00:02:16,919 Speaker 1: But you wouldn't go deary to forestry for. 49 00:02:16,880 --> 00:02:19,919 Speaker 2: Example, unlikely your lean classes too. 50 00:02:19,760 --> 00:02:22,560 Speaker 1: Good, okay? And what about the business of local money 51 00:02:22,560 --> 00:02:23,639 Speaker 1: the international money. 52 00:02:24,960 --> 00:02:27,680 Speaker 2: The market's very much a New Zealand domestic market at 53 00:02:27,680 --> 00:02:30,840 Speaker 2: the moment and perhaps even regionalized. We're not seeing the 54 00:02:30,919 --> 00:02:34,840 Speaker 2: great flower capital moving around the country, although it's just 55 00:02:34,880 --> 00:02:37,280 Speaker 2: starting that. We're starting to see some North Island buyers 56 00:02:37,280 --> 00:02:39,960 Speaker 2: coming to the South Island, which is always healthy for 57 00:02:40,000 --> 00:02:43,440 Speaker 2: the market. But overseas buyers with the OIO regulations pretty 58 00:02:43,480 --> 00:02:44,560 Speaker 2: much out of the market and. 59 00:02:44,480 --> 00:02:46,800 Speaker 1: The bank of the banks playing ball, are they into. 60 00:02:46,639 --> 00:02:50,760 Speaker 2: It very much a great time to be borrowing money, Mike. 61 00:02:50,800 --> 00:02:53,280 Speaker 2: They tell us the banks a lot of farmers have 62 00:02:53,320 --> 00:02:56,600 Speaker 2: paid back debt, so you know, also strong cash flows, 63 00:02:56,600 --> 00:02:58,720 Speaker 2: so the banks are very keen to get that out 64 00:02:58,760 --> 00:03:00,880 Speaker 2: the door again. And yeah, I think that was a 65 00:03:00,919 --> 00:03:02,000 Speaker 2: Farmer's freend at the moment. 66 00:03:02,040 --> 00:03:03,280 Speaker 1: I love a good on your show, nice and so 67 00:03:03,320 --> 00:03:05,520 Speaker 1: I appreciate it very much. Shana Brian, who's the Real 68 00:03:05,600 --> 00:03:07,760 Speaker 1: Estate Institute Director in riddles, folks fist it makes you 69 00:03:07,760 --> 00:03:09,680 Speaker 1: feel good on a Friday, that sort of stuff. For 70 00:03:09,800 --> 00:03:13,160 Speaker 1: more from the Mic Asking Breakfast, listen live to news Talks. 71 00:03:13,160 --> 00:03:16,360 Speaker 1: It'd be from six am weekdays, or follow the podcast 72 00:03:16,400 --> 00:03:17,280 Speaker 1: on iHeartRadio.