Uncertainty over the outcome of Brexit and future subsidy reform has led to vendors and buyers sitting on their hands, says David Powell of property agent Powells, which is based in Monmouth and covers mid and south Wales.
Compared with this time last year, fewer farms and less land have come to the market, he says.
Good commercial farms are selling well, especially where limited investment post purchase is required.
“Agricultural buyers with rollover relief money are often the key buyers, after seeing successful outcomes on land being sold to a developer,” says Mr Powell.
Good grassland with fodder cropping potential has been selling at about £6,000/acre, with arable ground reaching about £7,500/acre.
However, stronger sales have been experienced where multiple prospective buyers on neighbouring land have been competing, he says.
What’s on the market?
Powells is marketing 79-acre Upper Tal-y-fan Farm near Monmouth.
The livestock farm includes a Grade II listed farmhouse, three further residential dwellings, and farm buildings.
It is for sale with a guide price of £1.7m.
In north Wales, Carter Jonas is selling Gwastadfryn Farm, near Tywyn, on the southern slopes of Cadair Idris.
The upland farm is available as a whole for £2m or in two lots.
Lot 1 includes a Grade II listed five-bedroom house with about 1,370 acres of pasture grazing and mountain land.
Lot 2 has about 60 acres of pasture grazing and steeper hill ground.