Farms and Land Market Update

At the start of this year we were unsure what type of market we would find for farms and land in 2021. Would further lockdowns slow the market? Would the market cool when the stamp duty window partially closed at the end of June? Would anyone actually wish to sell?

However, what we have actually seen is that the market today is one of the fastest moving farms and land markets we have seen for some time.

Why is the farms and land market moving so quickly?
 

• Increase in demand for farms due to positive farm commodity prices, low borrowing rates, a strong residential market, a low supply of farms coming to the market, an increase in farmers looking to reinvest or expand and residential farm buyers wishing to have a lifestyle change or reinvest.
   
• Land seen as a green asset – We have seen a huge increase in the number of buyers wishing to purchase land for environmental reasons to undertake conservation and greening activities.
   
• The appeal of the Westcountry – Buyers from all parts of the UK and abroad are drawn to the West Country, which benefits from coast and moorland whilst retaining good road and rail links.
   
• Supply and demand – The lack of supply has maintained values and benefitted those vendors choosing to go to the market.
   

A good example of the current market conditions would be the sale of Wolversleigh Farm near Sidbury; a privately situated East Devon farm offering a 5-bedroom Devon Longhouse, a range of modern farm buildings and 104 acres. The property attracted 5500 views online with over 40 prospective buyers viewing it in person. It was offered for sale by online auction with a guide price of £1,200,000-£1,350,000, resulting in five active bidders battling it out over 29 bids to achieve a final price of £1,550,000. Interest in this farm was from buyers wishing to carry out diversification and farming activities. Of particular interest was the property’s accessibility to the coast and to mainline communications.

Another farm that sold was Kemps Farm, a 350-acre livestock farm on Exmoor which comprised two residential properties and an excellent range of livestock buildings. This farm drew interest from buyers throughout the South West and the Home Counties. The successful buyer viewed the farm over the Christmas period and a sale was agreed early in the new year with completion in March 2021. The buyer will be undertaking a combination of farming and rewilding activities.

George Alder, Head of Stags Farm Agency, comments “Currently the market remains extremely positive; the number of viewings of farms and land coming to the market have nearly doubled in comparison with previous years. Our department’s objectives are to continue to offer the best marketing and pricing advice to our clients. We encourage anyone considering a sale in the West Country in the near future to take advantage of our market knowledge by contacting any member of Stags Farm Agency team for positive, genuine and honest advice”.

 

For a free market appraisal please contact Stags Farm Agency on 01392 680059 or 01872 266728.

 

 

 

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