- Location
- Cornwall.
Demand for farmland in the South West has further decreased, having now been declining for the last 18 months, according to the latest RICS / RAU Rural Land Market Survey.
Respondents are highlighting uncertainty over Brexit and insecurities over future subsidies, as well as low commodity prices as the key factors hindering the market.
Alongside the decline in demand, the amount of land available for sale has also decreased across the region, with 17% more respondents noting a decline in availability (rather than an increase).
The lack of demand for rural land is impacting prices across the region. Farmland prices stood at £7,940 per acre in H2 2016 – this is down 7% albeit prices did pick-up slightly during the second half of the year.
Source: The Cornish Times
Respondents are highlighting uncertainty over Brexit and insecurities over future subsidies, as well as low commodity prices as the key factors hindering the market.
Alongside the decline in demand, the amount of land available for sale has also decreased across the region, with 17% more respondents noting a decline in availability (rather than an increase).
The lack of demand for rural land is impacting prices across the region. Farmland prices stood at £7,940 per acre in H2 2016 – this is down 7% albeit prices did pick-up slightly during the second half of the year.
Source: The Cornish Times