Bay of Plenty farm sale prices are in decline with the latest figures from the Real Estate of New Zealand showing the median sale price at a three year low for the three month period ending August 31.

The median price for this period in 2010 for a farm is $920,000, down from $1 million in the August 2009 period and $1.5 million from the August 2008 period.
This decline is matched by sluggish sales in the region with 23 sold in the August 2010 period compared with 32 sold in the July 2010 period.
This median sale price compares unfavourably to the national average of $1,127,754.

For lifestyle blocks, the median sale price is steady at $518,000. In the July 2010 period the price was $520,000. Both of these prices are down on the $540,000 median sale price of the August 2008 period, but are up on the August 2009 period when it was $430,000.