Welcome to our 2023 Farms, Land and Smallholdings Review.

A very busy year across all offices and departments within the firm, and the farms and land market has been no exception.

Whilst interest rate rises resultant from international volatility are well reported in the press, this has not yet seen a mass exodus of farmers and landowners from the industry. Relative tax efficiency and lower risk yields have kept the land market stable, with peaks in prices further demonstrating the localised low supply and high demand in certain areas, as reported in previous years.

Averages are no longer “average”, meaning greater skill is required in the valuation of land. Similar land can be £10,000/acre in one parish, and yet £13,000/acre in another parish. This in turn has led to an increase in land sales through our collective public auctions. Letting the market dictate true value and having transactions completed within a 28 day timeframe favour vendors, and an equal and transparent buying forum tends to favour most purchasers.

Results from much of our auctioned land is within this year’s edition. Unfortunately, some of these sales will be following the sad passing of some of our clients in 2023. Collective public auction, and certainly advice in the lead up to selling, does favour Executors looking to fulfil the duty they have been tasked. Our monthly fixture and central venue has proven very popular.

Quality farms also seemed in short supply, but in high demand, with most farms launched finding their buyer in a very short space of time, and whilst paperwork can take an unknown length of time depending on the will of solicitors and the circumstances of the parties involved, very few fall through, unlike the generic residential sector where buyers can change their mind as if it were buying a pair of jeans.

We invite you to talk with our team. Early preparations as we head into 2024 are imperative to hit the market (and the weather) at the opportune time to make the best of open market exposure.

We look forward to working with vendors and buyers, both on farm and in the auction room, throughout 2024.

Please see full review below:

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