While the build up to the referendum last year saw some volatility across the market – the industry continues to remain remarkably robust. This is despite the fact that the decision to leave the EU will have the biggest impact on agriculture of any event since Britain joined in 1973.

So far GTH has seen an increase in farms and land changing hands in the West Country compared to previous years.

What Brexit could actually mean for the British farming community, including the future of BPS or its equivalent replacement, remains uncertain. However, the market remains surprisingly buoyant - perhaps sustained local interest rates, a healthy number of buyers and properties pitched at the right price have helped?

Previously the market has demonstrated considerable growth and all-time highs, with sizeable blocks of bare land achieving £10,000-£13,000 per acre on a regular basis. Where demand is high these figures are still being achieved; however, in other places market values have peaked or eased back.

It is important that valuers continue to work closely with clients to manage expectations and ensure that they remain realistic about the results they are likely to achieve.

Notable sales to date include: 
  • West Middleton Farm at Parracombe, comprising a farmhouse, buildings and 221 acres sold off a guide price of £1,950,000
  • A 114 acre holding with farmhouse and buildings to the west of  Bridgwater sold privately; land at Caffyns Cross, comprising a range of  farm buildings together with 245 acres sold as a whole from a guide  price of £1.2 million
  • Crangs Heasleigh at South Molton comprising a farmhouse, buildings and 174 acres currently under offer
  • A 300 acre holding on the Somerset/Devon border which was sold privately in excess of £3 million.
Looking forward over the next 12 months it is likely that land values will remain steady, especially if the imbalance between supply and  demand continues and sterling’s ongoing weakness continues to buoy  commodity prices.

The true impact of Brexit has not yet been fully realised, but over the next few years the biggest test of the market will come when the UK leaves the EU and the transitional period of support comes to an end.

In the meantime the outlook for the West County remains positive and  for landowners and farmers considering selling they should contact one  of our Farm Agency team to arrange a market appraisal. Contact Head Office on: 01823 277121