According to Strutt and Parker’s database, 50,000 acres of land arrived on the market in July, August and September bringing the total about put up for sale in 2018 to 96,600 acres. This means that farmland marketed in England has hit the highest level in 10 years.
It should be noted, however, that a large chunk of this land is accounted for by a small number of landowners – seven farms marketed in the third quarter of 2018 totalled almost 30,000 acres alone.
Despite this supply in general does look to have increased and there has been more farms available for sale in the East as well as a large increase in the South-West.
Prices do, however, remain highly variable with ranges from £6,000 – £15,000/acre which can be demonstrated more locally looking at prices across the Herefordshire/Worcestershire border. Despite this average land values are reported to be circa £9,500/acre after stripping out the estimated value of buildings and houses.
The above demonstrates how volatile the market can be and highlights the importance of seeking professional valuation advice when considering anything from a sale or purchase to a ten-year trust valuation.
We at G Herbert Banks are well placed to advise on the land market and all your valuation requirements with four RICS Registered Valuers and three Fellows of the Central Association of Agricultural Valuers. Please do contact the team on 01299 896968 or email email@example.com with your query.