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Head of Farm Agency, George Alder MRICS FAAV, reflects on the 2024 farm and land market and the outlook for 2025.
Despite what felt like continuous events stalling property market activity in 2024, including a general election, the new government’s budget, fluctuating commodity prices and environmental challenges, the West Country’s farm and agricultural land market remained relatively stable.
Demand for commercial farms and sizable blocks of productive agricultural land endured, particularly in Devon, where Stags Farm Agency saw a 38% increase in the amount of land sold in comparison to 2023. Characterful, residential farms that offer privacy, and often required renovation, saw strong demand with buyers seeking a project to create their own dream.
The majority of Stags’ clients had traditional motives for selling their farms or land, including sales resulting from retirement, separating partnerships and deceased estates.
Buyers for farmland were not in short supply across the region, though demand and price were location specific, but for good quality arable and grazing land there was still keen competition.
The background of Stags’ farm and land buyers were a mix of those acquiring for their own agricultural use, those buying for investment, recreation and equestrian uses, and buyers with funds being rolled over from the sale of development land.
Smaller parcels of land remained highly sought after, particularly those suited to equestrian or recreational use located near to towns and villages, often achieving premium prices. Property auctions continued to serve as a successful method for selling such lots.
Looking ahead to 2025, the stability in the West Country farm and land market is expected to continue unless there is a significant increase in the supply to the open market.
For advice on the current market, or any farm and agriculture property matters, reach out to our knowledgeable farm agency team on [email protected] or 01392 680059
Thinking of buying? View our Stags farm and land properties currently on the market.
