The Farms & Land Market 2023

Published: 13/08/2023 By Andrew Tuffin

Land values are currently defying the trend of most other property assets. Since the Truss/Kwarteng minibudget, the ongoing war in Ukraine, increases in the cost of living and persistent interest rate rises, the residential and commercial property markets have been constantly adjusting with guide price reductions becoming frequent in less desirable urban areas.

However average land values across England grew by around 10% in 2022 and expectations were for this to continue in 2023 with demand remaining strong. A wet Spring meant several launches were delayed and since then supply has increased with 5% more land available than in 2022.


Demand is being driven by landowners and farmers with capital to rollover from selling often large blocks of land for development. We may see this reduce with a small slowdown in volume and pressure on developers’ margins. Institutional and private investors and charities are becoming more active. There is much talk of the increase in natural capital buyers as another class of investor and we are certainly registering more such buyers, however, premium prices are difficult to extract.


Farmers, still the dominant buyers, are being more cautious if borrowing, therefore purely commercial farms or blocks of land need to be priced correctly to generate interest.


Our highlight of instructions in 2023 is the 952-acre Preston Farm near Blandford (pictured), the largest farm in Dorset this year. Offered in 9 lots the farm attracted huge interest nationally and locally with several offers resulting in a sale being agreed over the £14m guide. 
In April 130 acres of arable land and woodland near Somerton were sold to 3 investor buyers achieving an average of £11,500 per acre. In early summer we agreed the sales of several ‘best-in-class’ residential and equestrian farms in excess of the guide. However, it has not been all plain sailing with some residential weighted farms generating good interest but still available.

If you are considering selling or buying, Symonds & Sampson’s dedicated farm agents can offer the national coverage and unrivalled local and industry knowledge to help. Please contact 
Andrew Tuffin, Partner & Head of Farm Agency at Symonds & Sampson. Contact him on 01258 472244 or our farm agents in your nearest office. (below)




Meet our Farm Agents


Experienced Agents selling, buying and letting farms and land across the South and West of England

Andrew Tuffin


Partner, Head of Farm Agency
Frome Market, Sturminster Newton

BSc (Hons) MRICS FAAV


Department: Sturminster Newton Rural and Agricultural, Rural and Agricultural, Professional, Frome Market Rural and Agricultural, 
Speciality: Agricultural Tenancies, Agriculture BPS, Contract Farming, Development Land, Farm Business Tenancies, Farms and Land, Grass Keep, Probate, RICS Registered Valuer, RICS Valuer, Rural Grants and Subsidies, Tax Planning, Valuation, Valuations for Banks

01258 472244
07970 208825
atuffin@symondsandsampson.co.uk

Ross Willmington


Partner
Axminster

DipAgFM MRAC


Department: Axminster Rural and Agricultural, Rural and Agricultural, Professional
Speciality: Agricultural Tenancies, Agricultural Appraisals, Agricultural, BPS, Compensation, Compulsory Purchase, Easements, Estate Management, Farm Business Tenancies, Farms and Land, Grass Keep, Rural Grants and Subsidies, Tax Planning, Valuations, Wayleaves


01297 33122
rwillmington@symondsandsampson.co.uk

Will Wallis


Partner, Auctioneer
Dorchester, Frome Market, Poundbury Burraton House

MRICS FAAV

Department: Rural and Agricultural, Dorchester Rural and Agricultural, Frome Market Rural and Agricultural, Burraton Rural and Agricultural, Professional
Speciality: Agricultural Tenancies, Agriculture, BPS, Contract Farming, Development Land, Farm Business Tenancies, Farms and Land, Grass Keep, Probate, RICS Registered Valuer, RICS Valuer, Rural Grants and Subsidies, Tax Planning, Valuations, Valuations for Banks


01305 236572
wwallis@symondsandsampson.co.uk

Jack Edwards


Partner
Salisbury

MRICS FAAV


Department: Rural and Agricultural, Professional, Salisbury Rural and Agricultural
Speciality: Agricultural Tenancies, Agricultural Appraisals, Agriculture, BPS, Compensation, Contract Farming, Diversification, Easements, Estate Management, Farm Business Tenancies, Farms and Land, Grass Keep, Option Agreements, Planner, Probate, RICS Registered Valuer, RICS Valuer, Rural Grants and Subsidies, Valuations, Valuations for Banks, Wayleaves

01722 334323
07747 888385
jedwards@symondsandsampson.co.uk

Paul Heard


Partner
Tiverton

MRICS FAAV


Department: Agricultural Auctions, Tiverton Agricultural Auctions, Tiverton Rural and Agricultural, Rural and Agricultural, Professional
Speciality: Agricultural Tenancies, Agricultural Appraisals, Agriculture, BPS, Compensation, Compulsory Purchase, Contract Farming, Diversification, Easements, Farm Business Tenancies, Farms and Land, Grass Keep, Planner, Preparation of Plans for Land Registry, Probate, RICS Registered Valuer, RICS Valuer, Rural Grants and Subsidies, Tax Planning, Telecoms, Valuations


01884 218911
07800 913637
pheard@symondsandsampson.co.uk

Lucy Carnell


Rural Surveyor
Yeovil

BSc (Hons) MRICS 


Department: Yeovil Rural and Agricultural, Rural and Agricultural, Professional
Service: BPS, Compensation, Compulsory Purchase, Easements, Farms and Land, Grass Keep, Preparations of Plans for Land Registry, Probate, RICS Registered Valuer, RICS Valuer, Rural Grants and Subsidies, Valuations, Wayleaves


01935 382901
07940256550
lcarnell@symondsandsampson.co.uk

Jack Curnick-James


Senior Surveyor
Devizes

MRICS FAAV


Department: Rural and Agricultural, Devizes Rural and Agricultural, Professional
Speciality: Agricultural Appraisals, Agriculture, AMC, BPS, Compensation, Compulsory Purchase, Diversification, Expert Witness, Farm Finance, Farms and Land, Grass Keep, Planner, Probate, RICS Registered Valuer, RICS Valuer, Rural Grants and Subsidies, Tax Planning, Valuations, Valuations for Banks



01380 710535
jcjames@symondsandsampson.co.uk

Morgan Clement


Rural Surveyor
Wimborne

BSc (Hons) MRICS


Department: Rural and Agricultural, Wimborne Rural and Agricultural, Professional,
Service: Agricultural Tenancies, Agricultural Appraisals, Agriculture, Biodiversity Net Gain, Boundary Disputes, Compensation, Compulsory Purchase, Contract Farming, Development Land, Diversification, Easements, Farm Business Tenancies, Farms and Land, Grass Keep, Option Agreements, Options, Planner, Preparation of Plans for Land Registry, Probate, RICS Registered Valuer, RICS Valuer, Rural Grants and Subsidies, Tax Planning, Telecoms, Valuations, Wayleaves,
 

01202 882103
07751 609537
mclement@symondsandsampson.co.uk