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Amongst the economic uncertainty and political turmoil, we continue to see strong demand in the farms and land market.
Similar to the last year, we have seen fewer farms and large parcels of land being launched to the market. However, for the few properties that are available, demand remains high. With demand exceeding supply, prices are remaining firm.
Over the last six weeks, the market has remained active; here are some real-life examples:
1. Pasture land in the village of Culmstock which generated a considerable amount of interest, received multiple offers and had a sale agreed just two weeks after being launched to the market.
2. Amenity land near Combe Martin, which sold by private treaty for over double the guide after just 10 days of marketing.
3. Two farms launched to the market in West Somerset at £1.1m and £2.885m, both attracting strong interest, with over 40 viewings combined.
4. Five auctions of farms and land in the last six weeks, including an equestrian holding near Pensilva which sold via online auction, surpassing all expectations to sell for double the guide price, just five days after the announcement of the mini budget.
Large commercial blocks of land continue to be seen as a good long-term investment and a safe haven within a volatile market and, as a result, they often see high levels of demand. During periods of economic instability, we anticipate these high levels of interest in agricultural property to remain.
For further information please contact Stags Farm Agency on 01392 680059 or email farms@stags.co.uk
