Tax holiday boosting rural property prices
Covering an area of Shropshire, Cheshire and Staffordshire, our data has shown that farmland values remain relatively strong, despite a turbulent eight months of the Covid-19 pandemic and post-Brexit uncertainty.
It cannot be denied that there has been a heavily restricted supply of land becoming available to market, seen throughout the UK since the beginning of Brexit. However, despite a pause to the market seen during the early stages of lockdown, our rural agency teams are currently busier than ever, in correlation with our valuation services.
The current rural property market, covering residential, land, and commercial property, has seen a dramatic increase in demand.
Farmhouses and rural residential property are often being sold in excess of the asking price, following the stamp duty land tax holiday, available until March of next year. Additionally, the high level of demand and counteractive low level of supply of farmland currently becoming available has seen an increase above the typical average pound-per-acre seen a year ago, especially with grassland.
This remains a positive for those in need of securing new loans and banks revisiting the security of current loans.
Hannah Stevens is a placement student with Fisher German from Harper Adams University
