Residential fillip keeps up prices
WHOLE farms sold are maintaining recent values in Yorks as an increased demand for the residential element negates any fall in the value of the land.
"The non-farming fraternity is certainly playing a significant part in maintaining land values," says Robin Jessop, Northallerton Estate Agency. "On the residential side properties are no cheaper than in the boom of 1989, there are plenty of buyers and a shortage of units available."
He maintains that there are still farmers willing to take more land on board although an air of caution now is apparent in the market.
Having sold three units in North Yorks to non-farming buyers recently the two farms he has to sell now are lotted up to maximise the values and offer flexibility to the range of buyers in the market for all or part of a farm.
Hill Top East, Caldwell, between Richmond and Darlington, includes 138 acres of arable and grassland. The three bedroom house, a range of stone farm buildings with potential for conversion and about 5 acres are guided at £200,000 with the land divided into lots of between 10 and 70 acres guided at more than £3000/acre.
"The land is good wheat and winter barley land and a flock of 350 mule ewes are run on a five year rotation with 4000 store lambs," said Mr Jessop who expects the land to go to local farmers and the steading to a residential buyer.
Also he is selling a 89-acre hill farm, at Baldersdale, near Barnard Castle.
Due to the surrender of a tenancy, West Briscoe Farm is for sale as a whole or eight lots enabling local farmers to expand their working acreage without the added burden of buying the steading.
The steading in need of modernisation includes a four-bedroom house and some stone farm buildings – guide price £80-100,000 and the land is guided at around the £2000/acre except three lots each benefitting from a stone barn which are valued at about £3000/acre.