Published: 11/04/2025 By Ross Willmington
Ross Willmington, a partner at Symonds & Sampson, reflects on recent land sales after the firm’s auction on 10 April."There has been a lot of discussion about land prices and whether they will fall following the government's decision to alter agricultural property reliefs, but recent sales have given us a barometer showing ‘no change’.
"When we value land, we firstly look towards the neighbours and how land hungry they can be, and then we start to look more widely at the regional and national buyers. The auction on 10 April was an interesting one, as we had bidders from a wide area and it was difficult to ascertain their motivation to buy. We sold 33 acres at Wilmington near Honiton to a local buyer but then had a small area at Ryall near Bridport that attracted bidders from Berkshire, Oxford, Salisbury, and Devon as well as local people. The underbidder drove all the way from Kent to bid, and the eventual buyer – 148% above guide – was on holiday in Wales and bought over the telephone.
"A 6.76 acre field with scrub, ponds, and rough grazing was equally popular but a local person won the day, paying £11,000 per acre. It all bodes well for land sales this spring and summer."
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