Otago farm prices and the number sold ave fallen to less than half what they were in 2008, mirroring the national trend, according to Real Estate Institute of New Zealand figures.
The median price for Otago farms sold in August 2008 was $1.8 million. Last month, the median price was $712,000.
Nationally, the median farm price in August 2008 was $1.742 million, but this fell to $1.1 million last month.
Just 17 dairy farms sold in the three months to the end of August, a fraction of the 67 for the same period in 2008.
The 192 farms of all types sold in the three months to the end of August was higher than the 183 in the same period last year, but fewer than half the 516 transactions in the three months to the end of August 2008.
In August last year, the average price a hectare over all farms was $90,125, but this has fallen to $29,739.
For the three months to the end of August, 19 farms sold in Otago, compared with 55 for the same period in 2008.
The number of farms sold in Southland has fallen from 91 in the three months to August 2008 to 27 for the latest period under review.
