FARMLAND MARKET ‘PAUSED’, BUT DEALS IN PIPELINE PROCEEDING
Our quarterly review of the farmland market is normally an opportunity for us to give an overview of what is happening based on market data. Given the unusual circumstances, this time our review is less focused on the data, instead aiming to give an insight into how the farmland market is currently operating.
- What market activity is there?
- What is happening to new launches?
- What are buyers saying?
The market at a glance:
- 4,500 acres of farmland were publicly marketed in Q1 of 2020, which is the smallest acreage in the last 20 years.
- However, the same number of farms were marketed in the first quarter of 2020 as during the equivalent period of 2019 and 2018.
- The market is on pause at present, but our agents are still getting enquiries from people wanting to buy land.
- While farmers remain the predominant type of buyer, lifestyle buyers now buy around a quarter of the farms sold.
- Average prices in Q1 are based on a small dataset so need to be treated with caution.
- £9,900/acre was the average price of arable land exchanged in Q1, compared with a 12-month rolling average of £9,100/acre.