The median sale price for a farm in the Bay of Plenty continues to fall with the latest figures from the Real Estate Institute of New Zealand showing it was $867,500 in the three month period ending January.

This is down from $875,000 in the three month period ending December 2010 and is down considerably on the January 2010 period when the median sale price was $1,175,000.

In the latest three month period, 20 farms were sold in the Bay of Plenty; 12 horticulture, three each of dairy and forestry and one each of grazing and special. This total, 20, is down from the 25 sold in December period and down from the 23 sold in the January 2010 period.

The lifestyle block property market in the Bay of Plenty had a median sale price of $485,000 in the three month period ending January 2011. This is marginally up on the median sale price of the December period when it was $480,000. Both of these figures are down on the January 2010 period median sale price of $535,000.