Land in your region 2021: North West England

Demand for land is strong in the North West of England, which supports values. Across all land types, average values ​​have increased 6% year over year, according to data from Savills.

Demand continues to exceed supply in the region. Marginal lands have received considerable interest and this is expected to continue as the market for natural capital expands.

Private sales of land represent a larger proportion of sales, resulting in many properties changing hands without being listed on the open market.

The volume of land advertised for sale in the North West of England increased 25% year-on-year to 9,877 acres in the first 10 months of 2021.

Considerable uncertainty

At the start of the year, there was considerable uncertainty as people were unsure of the impact of Covid. This resulted in a minimum number of lands and farms in the market.

Since the lockdown, everything that comes on the market is in high demand, and trading and results over the past three months have been the strongest I have ever seen.

Relying on residential growth and those looking to invest, Northwestern farmers are seeing rising property values ​​everywhere.

Depending on the type of land and location, the values ​​of bare land plots increased by 10 to 30%.

Fenced farms are rare, and with demand far exceeding supply, prices are far higher than in 2019-2020.

We have rented several farms and blocks of land this year over a variety of rental terms, and have seen quoted rents reach levels never seen before.

This is driven by confidence in the UK markets. Covid has reset the value of food, resulting in sustained livestock prices – and there appears to be confidence for the future.

Thomas Armstrong, Director, H&H Land & Estates

Low supply

The rural real estate market remains strong in Cumbria. The supply of quality land and productive farms remains low, while the number of buyers remains high.

We hope that this enthusiasm will continue this fall and into the spring. Decorative woods and commercial forests are still in high demand, and buyers of rural properties are more diverse than ever.

Davidson & Robertson has seen an increase in off-market sales this year, ranging from small pens to large, diverse rural businesses.

Sellers seek discretion in the sale of their property – the company has been actively working on behalf of buyers this year, ranging from private clients to investment firms.

We have also seen marginal land selling for up to 50% more than asking price this year, with smaller farms also seeing significant interest and properties regularly receiving multiple offers.

Joe Bell, Surveyor, Davidson & Robertson

What has sold well?

© H&H Lands and Domains

Greenclose Farm, near Penruddock in Penrith, was in the market with H&H Land & Estates guided at £ 3.19million, with agreed sales well above the guide price.

The 504-acre cattle farm in the Lake District National Park was offered as a whole or in six lots. Five lots were sold to the same investor.

Lot four, an eight acre lot with a stone barn with potential for residential development, sold to an individual.

What’s on the market?

© Davidson and Robertson

Near Seaton in Cumbria, Davidson & Robertson launched Hillside Farm, a small eight-acre property for offers of over £ 600,000.

The land includes a four bedroom house, a range of traditional and modern buildings including cold rooms, greenhouses, and six acres of land with development potential.

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