New Zealand Dairy Statistics 2010-11 - LIC
New Zealand Dairy Statistics 2010-11 - LIC
New Zealand Dairy Statistics 2010-11 - LIC
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ii) <strong>Dairy</strong> farm land sale values<br />
• Number of farms sold lowest in more than 20 years<br />
• Average sale price of farms drops to $2.3 million<br />
• Nominal price per hectare also falls<br />
The average sale price of dairy farms ($2.34 million) decreased <strong>11</strong>% in <strong>2010</strong> (Table 5.2). The inflation- adjusted average price per hectare of<br />
$29,500 has dropped back to 2006 levels.<br />
Table 5.2: Trend in dairy land sale values for the last 20 years<br />
Year Number of<br />
farms sold<br />
Average sale<br />
price ($)<br />
Inflation<br />
adjusted<br />
average sale<br />
price a<br />
Average<br />
hectares<br />
Average price<br />
per hectare<br />
($)<br />
Inflation<br />
adjusted<br />
average price<br />
per hectare a<br />
Price per kg<br />
milkfat b<br />
Price per kg<br />
milksolids c<br />
1991 538 362,819 570,355 58 6,283 9,877 21.7 12.5 736<br />
1992 897 446,979 696,036 62 7,183 <strong>11</strong>,185 23.1 13.3 743<br />
1993 834 543,984 835,843 61 8,903 13,680 31.0 17.8 753<br />
1994 784 704,245 1,070,712 61 <strong>11</strong>,640 17,697 37.5 21.6 761<br />
1995 672 775,<strong>11</strong>0 1,126,636 58 13,400 19,477 41.9 24.1 796<br />
1996 784 785,510 1,<strong>11</strong>9,255 60 13,187 18,790 41.6 23.9 812<br />
1997 520 674,809 950,979 54 12,388 17,458 38.5 22.1 821<br />
1998 496 704,309 975,9<strong>11</strong> 64 <strong>11</strong>,076 15,347 32.0 18.4 835<br />
1999 600 769,606 1,070,233 72 10,759 14,962 33.1 19.0 832<br />
2000 576 856,374 1,167,049 80 10,740 14,636 35.3 20.3 849<br />
2001 941 1,032,618 1,363,857 74 13,959 18,437 41.2 23.7 876<br />
2002 704 1,049,939 1,349,755 72 14,658 18,844 45.6 26.2 900<br />
2003 722 1,347,676 1,707,844 82 16,498 20,907 49.9 28.7 913<br />
2004 800 1,550,792 1,919,001 85 18,287 22,629 50.1 28.8 935<br />
2005 728 1,833,049 2,204,613 87 21,085 25,359 56.2 32.3 962<br />
2006 576 2,208,693 2,555,458 87 25,308 29,281 65.4 37.6 1000<br />
2007 699 2,541,870 2,883,278 91 28,035 31,800 73.6 42.3 1020<br />
2008 662 3,267,025 3,562,628 93 35,143 38,323 88.4 50.8 1061<br />
2009 277 2,641,186 2,780,575 84 31,323 32,976 64.4 37.0 1099<br />
<strong>2010</strong> 242 2,339,029 2,339,029 79 29,528 29,528 65.8 37.8 <strong>11</strong>57<br />
Source: Quotable Value <strong>New</strong> <strong>Zealand</strong> Rural Property Sales <strong>Statistics</strong> (Table D3)<br />
a Adjusted using the Consumers Price Index for the end of the June quarter<br />
b Price per kg milkfat has been derived from price per kg milksolids (1996 to current year)<br />
c Price per kg milksolids has been derived from price per kg milkfat (1991 to 1995)<br />
CPI<br />
<strong>New</strong> <strong>Zealand</strong> <strong>Dairy</strong> <strong>Statistics</strong> <strong>2010</strong>-<strong>11</strong> 41
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