Rural property data series | Bay of Plenty orchard sales

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Kiwifruit BOP header

Sale volumes of kiwifruit orchards peaked in 2003 driven by the market appetite for the developing 16A gold variety. Sales then generally reflected a downward trend from the mid-2000s to the market low of 2011-2012, which was driven by deteriorating market fundamentals, the Global Financial Crisis and the impact of PSA in the New Zealand market. 

The recovery over the last seven years is unheralded in the history of New Zealand commercial kiwifruit production and is driven by market appetite for the improved gold G3 variety, a restructured and more efficient governing entity, as well as the improved standalone performance of the green variety combined with gold conversion potential.

Sales volume of the last two years contradicts the ongoing strength in the industry and reflects the lack of properties coming to the market, as owners chose to hold rather than sell due to current returns.

Anecdotally, it appears the majority of the transactions are by existing kiwifruit industry participants wishing to leverage industry knowledge and strong returns.

Bay of Plenty Kiwifruit Property Report 2020

The sales map below is an analysis of recent kiwifruit transactions in the Bay of Plenty.

 


Rural and agribusiness valuation and advisory horticultural property

Rural property data series | Bay of Plenty orchard sales

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Chris Boyd

Executive Director | Rural Valuation

Tauranga

Chris has 36 years valuation and consultancy experience across a wide variety of property related matters including compensation, financial reporting statutory compliance, acquisition and rural valuation. He previously held senior positions at both Valuation New Zealand and Quotable Value – where his primary focus was the Bay of Plenty and Waikato regions.

His client work for the firm since 2008 has covered a range of property types and issues including; agribusiness, horticultural ,  lifestyle and residential development land, forestry land valuations, Emission Trading Scheme issues, specialised asset valuations, valuations for financing, due dilligence tax compliance, trust formation, matrimonial disputes and compensation. In addition he has provided expert evidence in the High Court, District Court, Maori Land Court, Environment Court  and Land Valuation Tribunal.

Chris’s infrastructure sector experience has included valuation and advisory projects covering compensation for easement and right of way property interests acquired by Transpower and other leading New Zealand energy companies, for new transmission lines and infrastructure upgrades, and compensation assessments for Crown entities taking property under the Public Works Act 1981 for motorways and pipelines.

His forestry sector experience has encompassed numerous valuation and advisory engagements throughout the country – including advice in relation to devolution of the New Zealand Forestry Service in the late 1980s, land value and rental review assessments as part of Crown Forestry license protocols and Maori Land rental review requirements, various Treaty of Waitangi settlement awards and providing expert evidence.

Chris is based in our Tauranga office and offers our clients sound market advice founded on a comprehensive understanding of the specific sector dynamics and balanced by experience gained working on behalf of owners, regulators and adjudicators in both the public and private domain. He is involved in a number of practice areas including forestry, dairy, Kiwifruit Avocados, infrastructure and pastoral.

Chris is the immediate past chairman of the Tauranga branch of the Property Institute of New Zealand and is a member of  the Waikato No. 4 Land Valuation Tribunal and the Directors Institute of New Zealand.

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