Shropshire Star

Signs point towards surge in Shropshire's farmland market

This year could see a surge in farms and land for sale in Shropshire and its surrounding counties after weather held off some launches planned for the start of the year.

Plus
Published
Supporting image for story: Signs point towards surge in Shropshire's farmland market
Farmland

Even though the 11,400 acres publicly-marketed in the first quarter of 2024 was almost 50 per cent up on the same period in 2023, Carter Jonas still expects the traditional hive of sales activity to be evident.

“Supply in the first three months of the year is typically a fraction of the level of supply that comes to market in the second or third quarter,” said Ralph Collins, partner at Carter Jonas’ Shrewsbury office.

“Wet weather has delayed numerous launches.”

Carter Jonas’s new Farmland Market Update publication reports the robust demand from a range of buyers is set to continue to drive values upwards.

From January 1 to March 31, average arable land values in England and Wales increased by 0.9 per cent to £9,667/acre, and pasture grew by 0.7 per cent to £7,806/acre.

CPI inflation eased from four per cent in January to 3.4 per cent in February, falling faster than projected. It is now expected that inflation will meet the Bank of England’s two per cent target in the next few months, strengthening the arguments for the bank to start bringing down the base rate.