Market Update – By Tim Howard

I think we were all nervous about what 2025 would bring following the budget in 2024. However, the first quarter resulted in a number of the transactions that we’d agreed in the ‘back- end’ all complete unaffected by Rachel’s announcement. There was certainly a slowdown in activity of new instructions and completed sales over the spring and summer as the downward pressures of the weather, the economy, the change in funding policies, crop prices all meant that many were just trying to ‘get by.’

However, the autumn has seen a marked increase in land being offered for sale and deals being concluded after competitive bidding. Good quality land with services and the ability to grow a variety of crops or grass has certainly been the most in demand – as has land with buildings which give even more flexibility of uses.

These sales have been driven by business or debt restructuring as well as death and retirement. Purchasers were those looking to expand their business or those with capital to invest rather than new entrants.

A highlight of the year were two very similar 150 acre ring fenced mixed farms – both in Northamptonshire that both sold in the Spring to local farming families that achieved in excess of £12k per acre for the land.

Many of our clients are now having more open conversations with the next generation about how to move forward and whilst the midlands area is a hive of development activity in every sector – land will be in demand. With rollover relief still there and some IHT benefits – land is still seen as a safe and secure long-term investment and

We will continue to advise our clients to be sensible and cautious with their expectations from the outset, but with good clear marketing and transparency in what is offered for sale, we still expect to be able to generate a good level of interest.

By Tim Howard