Demand for farmland remains strong despite the challenges and uncertainties facing farm businesses, claims a leading agent.
James Presly from Aberdeen and Northern Estates Ltd (ANE) said the firm exerpienced healthy and steady demand for farms and farmland during the first half of this year.
“Whilst the early months of 2018 saw a relatively short supply in the market, this has given way during the summer months as more farm properties have been launched,” said Mr Presly.
“Despite this increase in supply, properties continue to be met with interest, which we take to be an indicator of steady demand. It has helped somewhat that the properties brought to the market this year are generally well spread-out across the region, reducing the concentration of supply.”
He said initial pricing was often the key to a successful sale and farmers are advised to price realistically and sensitviely to drum up demand for their property.
“We have reported in the past that we are finding buyers’ outlooks to be focused ahead, past the relatively short-term political uncertainties,” added Mr Presly.
“This certainly continues to be the case with many purchasers taking the view that the combination of the right property and favourable borrowing rates forms a unique opportunity that will stand the future of their enterprise in good stead.”
He said ANE had recently launched two well-equipped farms to the market and both have already attracted good interest.
These are the 542-acre Bogenraith Farm near Durris, Banchory, and the 230-acre Easter Jackston Farm at Longmanhill, Banff.
Looking to the future, Mr Presly said: “We expect the same degree of cautious optimism to remain in the land market and the resilience of both buyers and sellers to be undiminished in the short to medium term.”