Director James Cameron’s newly purchased farmland in New Zealand outside Wellington is fueling local speculation that he intends to make a significant portion of his two Avatar sequels in New Zealand. Reports say Cameron’s property is about 12 miles from the estate of fellow filmmaker Peter Jackson who’s currently at work on two-parter The Hobbit. Cameron’s property amounts to nearly 2,500 acres in the Wairarapa region about 50 miles northeast of Wellington, records show. The Avatar director owns two separate properties in the vicinity known for beef, sheep and dairy farming as well as vineyards. Cameron reportedly paid about $16.7 million. Records indicate Cameron and his Malibu-based family plan to “reside indefinitely” in New Zealand.