Farmers Weekly’s regional spotlight series kicks off in the South West, where supply is steady and demand is focused on the biggest and the best.
Agents say that this year they expect the land market in the region to be steady and that the recent improvement in the milk price has increased interest in dairy farms.
Scroll down to see what agents made of this year’s market in the South West and what they expect for next year. We look at a farm that sold well in the area and one that is still on the market.
Looking back at 2017
Lack of supply has helped to keep prices stable in recent months. Rollover and lifestyle buyers are the most active, looking for large farms or estates.
However, local farmers are confident enough to take opportunities if land comes up on their doorstep, and we expect this to continue.
The highest prices are being paid for large-scale farms, those with diversified income streams and where there is strong local demand. This has meant that the gap between the highest and lowest prices has increased.
Charlie Evans, head of South West estates and farm agency, Strutt & Parker
Looking ahead to 2018
We are expecting the South West market to be “steady as you go” – much the same as this year.
An improvement in the milk price has brought renewed interest in dairy farms, and those with the ability to be converted will get much more interest.
The market for beef and sheep units will depend on the strength and determination of neighbours, and the quality and location of the house.
Arable farms will continue to see good interest but, overall, clarity on Brexit, with a greater understanding of future farm subsidies and tariffs, will have the biggest bearing.
David Kivell, senior partner, DR Kivell & Partners