Bay farm values rise

The median price for a farm in the Bay of Plenty rose by about $177,000 in the last three months, according to latest figures from the Real Estate Institute of New Zealand.
The median price for a farm in the Bay of Plenty was $1,175,000 in the three month period ending January 2010.

During the same period 2009, the median price for a farm was $1,525,000 and during the three months to the end of December 2009 the median farm price was $997,500.
There were also 23 Bay of Plenty farms that sold in the three months to the end of January.
Of those sold, 15 were horticulture, four dairying and four grazing.
REINZ figures show 77 lifestyle blocks sold in January and the median price remains at $535,000.

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