Farm sales continued to decline in August quarter, after picking up earlier in the year.
Figures issued by the Real Estate Institute of New Zealand show 265 farms were sold in the three months to August 2011, 36 fewer than in the preceding period to 30 July 2011.
REINZ attributes the drop in sales to the peak seasonal workload for farmers.
But while the numbers were down, prices rose slightly, after a period trending down.
The median per-hectare price for all farms sold in the three months to August is $15,148, up from $14,649 in the period to the end of June 2011.
Grazing properties made up more than half of the sales. Dairy farm sales accounted for 11%, finishing properties 17% and horticulture and arable properties 6% each.
Sales in the lifestyle property market also fell, down 5% on the preceding period - but up 22% on the same period in 2010.