A rural view
“In recent months there has been a shortage of supply across all sectors. The demand for bare land and commercial farms has continued to strengthen during 2013 with land prices up by more than 20 per cent in some areas. However, this growth has been patchy and has resulted in wide-ranging land values from £8,500 to £14,000 per acre, depending on location, size and quality.
“The outlook for 2014 is that values will be influenced by the supply of land being offered to the market. Prices for the better quality arable land are likely to remain firm in 2014 and may possibly increase further, depending on location. The price of less desirable land is likely to remain static and may even drop in some areas.
‘During 2013, Fenn Wright were involved in three significant off-market sales for properties located in East Suffolk, Mid Essex and a large mixed portfolio of agricultural, residential and commercial property near Colchester. And owners of land and farms who are considering selling this year, should get in touch to discuss their sales strategy. In 2014 it will be critical to price sensibly.
“With a detailed knowledge of the local market we can conduct a market appraisal that will determine a guide price that is appropriate. We also have a number of genuine purchasers registered with us who are actively looking for land and farms throughout Suffolk and Essex.”