Looking for Land? Look to the Cotswolds
While agricultural land values soften, more versatile blocks continue to hold up well in Gloucestershire & Oxfordshire
A block of 20 acres of level pasture is now on the market near the village of Chedworth close to Cirencester at a guide price of £10,000/acre, reflecting the popularity of smaller blocks of agricultural land with potential for other uses, at values above the UK average for farmland. http://www.butlersherborn.co.uk/chedworth/fields-road/nid1256.
“At a time when agricultural land values are generally softening, this is an excellent example of smaller blocks of land retaining their value in this part of the world,” says Richard Greasby, head of the Rural Department at Butler Sherborn.
“According to the recently published RICS/RAU Rural Land Market Survey, the UK average price for bare arable land fell from £8,982/acre in the second half of 2016 to £8,378/acre in the first half of 2017. This suggests that demand for land in the first half of this year continued to soften across the mixed and commercial sectors, while prices remained stronger for higher quality land.
“While the reasons for buying and owning land remain, we continue to see a polarisation in demand and sale prices, with purchasers being increasingly selective over more marginal land.
“Buyers of commercial farmland are generally more cautious, however farms or land with diverse income streams and smaller blocks continue to be popular. Prices achieved and the speed of sale can vary widely, but the Cotswolds and West Oxfordshire continue as a popular area to buy, with values underpinned thanks to relatively low availability.
“We expect the current trends to continue in the foreseeable future, with a wide difference between the highest and lowest prices achieved, and more marginal blocks of commercial farmland perhaps falling further in price.
“Timing and preparation ahead of a sale remain key to ensuring the best chance of success, including discussion and planning with your land agent, solicitor and accountant. Butler Sherborn provides a discrete and confidential service, and we are happy to offer impartial advice on land acquisition and sale, without cost or obligation”, concluded Richard.