English Estates & Farmland Market Review – Winter 2018/2019
The farmland market has proved more resilient than many might have predicted considering the Brexit-related uncertainties and practical challenges posed by the weather over the past 18 months. Despite an increase in the supply of farmland in the market, average prices have remained stable.
The average price of arable land in England rose by 2% in 2018 to £9,400/acre; this is down from its peak in Q2 2015 by £1,300/acre, but only a little below the five-year average.
Of course the big question on everyone’s lips is what happens now?
The Agriculture Bill, published in September, confirmed the government’s intention to phase out support payments over a seven-year period and much has been made of the negative impact this could have on land prices. This is set against continuing uncertainty, as we write, over our leaving of the European Union.
The one certainty is that it has never been more important to seek advice if you are considering buying or selling farmland.
Shared by: Strutt & Parker
You May Also Enjoy
Property compliance experts urge landlords not to ignore major tenancy changes under Renters’ Rights Act
Nationwide becoming first lender to allow mortgage deeds to be signed digitally
Fruitful year ahead for aspiring first-time buyers
Lovelocked London homebuyers face romance premium
First-time buyers face highest hurdle in England
