Everyone wants their own piece of countryside

Over the past few months, amenity-sized blocks of land have become considerably more popular and, therefore, more valuable. Andrew Ranson, Farm and Land Agent with Stags, covering Cornwall and the Devon Borders, has a close look at the recent trends.

Most blocks of land in excess of 25 acres are usually sold to farmers and the occasional investor, but why are the general public purchasing smaller blocks of land?

Over the last 30 years, amenity land lots have become increasingly popular, but the Covid pandemic has accelerated this popularity, with the public’s re-connection to the countryside causing a dramatic increase in the desire to own one’s own piece of it.

In the last month, Mr Ranson reports that he has agreed sales on 12 amenity-sized land lots.

One such example is 2 acres near St Wenn, Bodmin. Stags sold it to the current vendor about 3.5 years ago, for a figure a little over its guide of £20,000. A number of relatively inexpensive improvements have been undertaken by that purchaser since then, such as re-seeding it and erecting a poly tunnel and a composting toilet. Stags launched it onto the market for Online Auction just over a month ago with a Guide of £30,000 - £50,000. A buyer from near Southampton paid just over £89,000 to secure it!

Other similar successes were achieved in Harrowbarrow, Broadwoodwidger, Virginstow, Bere Ferrers, Pancrasweek and St Minver.

In many cases, the buyers are coming from out of area, but there is also considerable demand from local buyers.

Mr Ranson points out, “In a good number of cases, purchasers have no clear purpose for the land; they just know that they want to own some land. Usually the catalyst in this situation might be the opportunity to purchase land very close to their home or, perhaps, they have had a windfall or inheritance that suddenly enables a purchase. I also think the Covid pandemic has given people time to re-assess their priorities.”

The most cited reasons for buying land recently have included:

• For enjoyment purposes - walking the dog on, for children to play on, for wildlife watching, camping
• For conservation aims - tree planting, improving habitats for wildlife
• For keeping horses on
• For a commercial dog enterprise - either ‘Dog Day-care’ or for hiring out as an exclusive dog-walking area
• The ‘good life’ - aiming to be more self-sufficient, to plant an orchard, grow vegetables etc
•  Carbon offsetting - this is a fast-growing reason for land purchase, particularly on less productive land
• Habitat offsetting - where a developer is impacting habitats in one area, they are required to create a better habitat in another
• For control purposes - privacy or as a buffer to benefit adjoining property

Mr Ranson clarifies, “In terms of what one might expect to pay for a small piece of land, you can generally apply the principle that the smaller it is (and therefore more affordable) the larger the market, which leads to a higher price per acre. Regularly the old bench mark of £10,000 per acre is dramatically exceeded and a 2 acre lot will often make the same price as 5 acres.” He adds, “Location will often influence the value far more than the quality of the land.”

The market for “farmer-sized” lots also appears to be rising, but that will have to be covered in another article.

For advice on selling, purchasing or the value of properties with land please contact Andrew Ranson on 01566 774999 or a.ranson@stags.co.uk

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