Canterbury's rural market still hot

Sunday 26 September 2004

Listings may be down, but Canterbury's rural real estate market is still humming after six-figure sales for farming units in August.

By The Landlord

Sales for the month were mostly short of the large $10 million plus high-country stations that changed hands earlier this year.

An exception was the turnover of 2600ha of farmland at Castle Hill Station for an estimated $2 million to Auckland businesswoman Christine Fernyhough, with the remaining 11,100ha bought by the Government for $3.5m to secure public access to the Porters Pass area.

This made some impression on the overall median price for 16 farms sold in the province, rising to $1.12 million compared with $513,000 for 28 sales a year ago.

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