Farmland Prices Rocket in Dorset
June 2010
Our property auction on 28 May 2010 reached record prices for agricultural land sold by the firm under the hammer.
Head of Agency, Mark Lewis said: "We had terrific interest for land not only from local farmers but also people deriving their main income outside of agriculture. There were celebrity bidders, buyers from the medical profession and those looking to place money into a secure investment and the competition was fierce. Ironically when buyers from outside the industry outbid locals the successful purchaser then needs to get someone to farm the land for them so all is not lost for the neighbouring farmer.
"Of particular note at the auction was White House Farm (left) being sold by Somerset County Council. This was a farmhouse, buildings and 80 acres which was sold in 5 lots.
"Lot A: the farmhouse, buildings and 27 acres against a guide of £500,000-£550,000 made £750,000. Lot B: 18 acres made £140,000. 21 acres made £9,761 an acre. 17 acres £11,478 an acre and 14 acres made £7,800 an acre. Ignoring Lot A the average price was £9,238 an acre.
"In the New Forest, traditionally expensive land is tightly held, 7.75 acres of stables, buildings, woodland and paddocks sold for £230,000 being just under £30,000 an acre whilst a pony paddock next door of 1.6 acres sold for £40,000.
"We will have to see" said Mr Lewis "whether this is a bench mark or a blip".
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