D & R sales update: good interest and strong offers
Director of D&R George Hipwell heads sales and valuations and has given an autumn update on sales. Overall and year to date, D&R has seen properties secure good interest with strong offers received, with offers averaging 28% over asking price. In the current market, the level of interest and speed of sale is determined by the quality of the property and its location.
The lifestyle market is dominated by buyers looking for properties in commuting distance of Central Scotland with a manageable amount of land, often between 5 and 20 acres.
Land sold for tree planting this year has sold for 32% over asking with a value range of £1650 to £2000 per acre for plantable land. The market price has been rising in the last few months with increasing demand, especially for good quality planting land.
The agricultural sector is still dominated by key trends like neighbouring businesses taking local opportunities. Buyers are also looking to buy land with funds that are external to agriculture due to the tax advantages of agricultural land.
Although uncertainty over the future of subsidy continues and recent farm gate prices have dipped (especially in the livestock sector), the availability of long-term funding at low-interest rates continues to support progressive businesses.
If you are considering selling property in 2020, it pays to plan ahead. If you are thinking of bringing a property to market or are looking to buy, contact Fiona Paul, Sales Co-ordinator on 01506 811 812.
