The median sale price for a farm in the Bay of Plenty continues to fall and is at a three year low for the three month period ending September.

This year the median sale price in this period was $790,000, which compares unfavourably to a $1,000,000 price for the September period in 2009 and is further down on the $1,312,500 price of 2008.

There were 16 farms sold in the September period. These were 12 horticulture, three grazing and one arable. This total is down on the August 2010 period when 23 were sold and is down on the September 2009 period when 26 were sold.

The lifestyle block property market gives more cause for optimism with their median sale price in the Bay of Plenty in the September period recovering to $565,000. This is up on the $518,000 price for the August 2010 period and is hugely up on the September 2009 period when the median sale price was $440,000.

There were 65 lifestyle blocks sold in the September 2010 period.