Robust demand and prices
It is always difficult to draw firm conclusions about the farmland market based on Q1 data because we are inevitably dealing with a small number of sales.
The signs point to the market remaining robust. Over recent months we have seen an increase in new applicants registering to buy farms and our data shows average prices are higher than they were at this time last year.
As we have been saying for some time, average prices only tell half the story because we continue to see a wide range in the prices being paid. There is also the greater number of off-market or private sales to factor in, which include many involving our regional agents.
But the year has started in much the way the last one ended – which signals we are at least enjoying a period of stability.