COVID-19 Business Update Find Out More

Further to recent Government advice we feel it appropriate to close our offices and move our teams to working from home during these difficult times. We will therefore be working remotely to continue helping our clients and customers and will take all possible steps to ensure service levels remain high during these rather challenging times.

Please call the normal office telephone lines as your calls will continue to be answered and forwarded to the appropriate member of staff..

We appreciate how difficult and uncertain this period will be for everyone but we would like to reassure you that during it we will do all we can to help.

Thank you for your understanding. Stay safe and well.

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RICS Rural Land Market Survey

RICS Rural Land Market Survey

The latest Rural Land Market Survey, released by the RICS (Royal Institution of Chartered Surveyors) and RAU (Royal Agricultural University) shows that demand for farmland continues to outpace supply.

This is driving up prices and supports expectations for further rises to come over the year. Woolley & Wallis, who are active contributors to the survey, have seen prices of arable land achieve well over the national average and witnessed significant premiums paid for good quality parcels of ground.

The principle points to come out of the survey are that, firstly, agricultural land prices nationally have broken the £10,000 per acre mark. In the experience of our Salisbury and Marlborough offices, prices are now far in excess of this for larger parcels of good quality arable land.

Secondly, the lower commodity prices, such as milk dropping from 35 pence per litre down to 22 pence per litre has tempered the demand from the farming sector but the amount of land coming to the market remains low. Thirdly, the implications of this are that, with supply staying tight, that prices of land are expected to keep rising.

Woolley & Wallis have also seen the increase in demand from “lifestyle” buyers which adds to price pressures and keeps price expectations firm. Woolley & Wallis have demonstrated that their skills and experience have served their clients successfully and profitably and will continue to do so in 2015.

 
Richard Nocton
Written by

Richard Nocton

Partner

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