Farmland Market Review – A Land of Opportunity?

The farmland market in Yorkshire has been variable over the last 6 months to say the least.

Some parts of Yorkshire have seen larger quantities of land and farms marketed than have been available for some years, particularly the east of the county and Yorkshire Wolds. Demand for such farms has built up over the years where a lack of supply has been the norm and good-sized units are finding buyers at good money.

Further west in the livestock dominated area of the Yorkshire Dales, farms have been a much rarer commodity with only the occasional offering during 2017. The market in this area has been dominated by smaller blocks of 10-50ac which have found homes with local farming families in the main.

Parcels of land below 10ac continue to attract a large amount of interest from equestrian and amenity buyers with substantial premiums paid for smaller parcels in desirable locations or close to villages.

Prices continue to be hugely variable with large differences seen between parishes. Commercial blocks of farmland range from £6,000 to £12,000/ac however there remain exceptions to this range, positively where there are neighbouring interests and rollover buyers active, or negatively if properties have difficult access or restrictive covenants. The presence of rollover money continues to be a strong force in the market with more development land obtaining consents right across Yorkshire.

Finding the right property, either locally to expand an existing holding or regionally to relocate, establish a new business or as an investment can be a daunting task and a knowledge of the market as a whole is key. There are opportunities to purchase land and farms at reasonable values in Yorkshire which have scope to provide a good return on investment.

If you would like advice on purchasing a property, assistance in locating land or farms and assistance through the buying process please contact a member of our specialist Agricultural Agency team on 01423 860322