D&R saw properties secure good interest in 2019 with strong offers received, averaging 28% over asking price for all properties sold.
Last year the market saw the level of interest and speed of sale being determined by the quality of the property and its location with lifestyle properties being dominated by buyers seeking properties within commuting distance of Central Scotland together with a manageable amount of land, often between 5 and 20 acres.
Land sold for tree planting in 2019 was for 32% over asking with a value range of £1650 to £2000 per acre. The market price has been rising with increasing demand, especially for good quality planting land and we have seen a continued level of interest to start 2020, with more planting land to come to the market in the near future.
The agricultural sector is still dominated by agricultural buyers, including neighbouring businesses taking local opportunities or those reinvesting in agricultural property for its tax benefits. Funding is still readily available at competitive rates and those who have income from sources external to agriculture are incentivised due to the tax advantages of owning agricultural land. Although uncertainty over the future of subsidy continues, the recent upturn in some markets combined with a degree more political certainty following the election in December 2019 has led to a positive start to 2020.
For the reasons covered above D&R believe the market in 2020 will remain competitive, with opportunities for progressive agricultural business, forestry and planting land purchases and buyers looking for rural properties with lifestyle or equestrian appeal. If you are thinking of selling in 2020 get in touch with one of our experts at your local office for a free market appraisal.
