Farm sale prices held steady in April, but the number of farms on the market is falling, says the Real Estate Institute.
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New data showed there were 16 percent fewer sales for the three months ended April this year, than for the same three months last year.
But the median price per hectare for all farms sold in the three months to April was $30,000, up nearly 5 percent on the same period last year.
Three regions recorded increases in sales volume in the quarter - Bay of Plenty, Canterbury and Northland.
There were 22 percent fewer dairy farms sold in the year to April, with the median price per hectare for dairy farms falling over 13 percent in the past 12 months.
The median price per hectare for finishing farms has risen over 17 percent over the past 12 months.