2021 trends will still shape what happens in 2022 so here are some of the key trends we are asking buyers and sellers to consider – and we’ve also provided a summary of our sales and valuations for the year too:
“Buyers should be readying their funds (either finance offer in principle, or cash) to evidence ahead of search.”
- With an increasing number of properties coming to the market, activity is picking up but demand is still very much outstripping supply, partially down to pent up demand following a slow 2020.
- Investment buyers are an increasingly important part of the market – they are now active in more than just forestry or conventional planting land.
- There is a trend for short closing dates – between 5 working days and 2 weeks now being more common.
- Closing Dates are on the increase with the significant majority of properties being sold at closing date.
2021 Sales and valuations – a year in review*
Property sales:- Property launched: £21.7m 3,770 acres
- Property under offer: £15.66m 3,700 acres
- Property sales concluded: £10.1m 3,300 acres
*Sales include farms, amenity estates, forestry, planting land, smallholdings and equestrian properties, rural residential and new build plots. (Stats at 1-10-21 include all publicly marketed and off market transactions 1-1-21 – 1-10-21. Some sales/ under offer properties may have been launched in 2020).
Valuation/ appraisal stats
- 68 Red Book valuations completed (several others instructed but not yet completed/ reported so excluded) for a total value of £98.5m.
- Red Book valuations completed where the report content and value is to be relied upon by a third party – EG secured lending, Capital Gains Tax or Inheritance Tax reporting to HMRC.
- 57 non Red Book appraisals completed (no value of these catalogued). (Appraisals completed for internal purposes where figures aren’t required by a third party – EG sale planning or purchase options.)
For a no-obligation and confidential discussion about your property needs, contact George Hipwell or Will Dalrymple on 0131 449 6212, Lewis Anderson on 01224 766 956 and Joe Bell on 01900 268 633.
