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Farms and Land: Market Update

Farms and Land: Market Update

Stags Farm Agency continues through 2023 with a large number of new listings and positive sales results, maintaining their reputation as the West Country’s leading dedicated farm and land agent.

The past year has been extremely busy for farms and land that have been launched to the market. With fewer opportunities for buyers to invest in agricultural property, the farmland market in particular has grown with confidence and, with a limited supply of farms, interest has remained strong. Stags sold two of the largest farms in the South West last year, being Clannaborough Barton, Crediton and Huish Barton, Washford.

Within the first few months of 2023, we have agreed and completed on two farms and 27 land parcels through a combination of private treaty, informal tender and online auction.

A notable farm sale this year includes Gullacombe Farm near Callington in Cornwall, a holding of about 90 acres with a traditional farmhouse and outbuildings including a timber chalet. The property encouraged 25 interested parties to view and was agreed at a figure in excess of the guide of £1.9 million.

We have successfully conducted 9 online auctions, achieving an average of 28% above the guide. Examples of some successful sales include:

  • Land at Cadditon Cross – 30.82 acres of pasture and 23.04 acres of pasture and woodland sold in two separate auctions, on two consecutive days. Both sold in excess of their guides, selling for £240,000 and £185,000 respectfully.
  • Smallholding near Yeomadon – Situated near Pyworthy, the 20-acre smallholding caused a stir in the local market and, with a flurry of bids, the land sold for 30% above the guide price of £250,000.
  • Land near Rull – A 9.69-acre parcel of land for improvement, just outside the village of Stoodleigh, surpassed expectations to sell for 16% above the guide of £100,000.

If you are considering a sale, would like some advice or would like to hear more about the market, please feel free to get in touch with a member of our team for free no-obligation advice.

Contact a member of the Stags Farm Agency team on 01392 680059 / 01872 264488 / or contact your local Stags office.