There was very little land on the market in the first half of 2023, but that then improved as the year progressed with the overall amount being the highest since 2018, but still below levels from earlier in that decade. Demand outstripped supply with a growing diversity of buyers resulting in prices increasing. Motives to buy go beyond food production and include energy production, carbon capture, biodiversity net gain, development and investment.  In areas where there were CGT roll over buyers (from sale of development land) some sale results were stratospheric!

According to a recent article in Farmers Weekly, the average value of prime arable land in 2023 was just over £10,000/ac. There have been sales in the Cotswolds and surrounding areas with which Butler Sherborn has been involved, where the prices achieved have been well in excess of this figure.

Looking forward into 2024, we are anticipating that the market will remain stable and that the values are likely to remain constant. We expect this to be the case despite factors such as the rate of economic growth, the prospect of falling interest rates and the expectation of a general election having the potential to impact the markets, as would unforeseen global shocks. There is ongoing speculation surrounding political parties looking to axe Agricultural Property Relief for inheritance tax, but that is now looking less likely for the time being.

The Cotswolds remain very popular and we look forward to another successful year selling land, farms and equestrian property within the area. As the Cotswold Property Specialists our knowledge of the market is second to none, as is our commitment to achieving the best possible sales for our clients. 

If you would like a confidential sales appraisal of your property, please contact Richard Greasby or Ben Way.

richard@butlersherborn.co.uk  01285 883740

ben@butlersherborn.co.uk 01451 830731