Everyone's doing it (except farmers)

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Everyone's doing it (except farmers)

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Blue Peter

Joined: 21 Mar 2005
Posts: 2400
Location: Milton Keynes

Posted: Mon Feb 13, 06 4:45 pm Post subject: Everyone's doing it (except farmers)

https://business.timesonline.co.uk/article/0,,9553-2035663,00.html

Quote:

Farmland feels the pinch

FAMILIES who bought farmland to escape the urban rat race or avoid inheritance tax (IHT) got firm evidence last week that the boom in land values is over, writes Clare Francis.
While prices for rural land soared 25% in 2004, they fell 4.6% last year, according to new figures from the Royal Institute of Chartered Surveyors (Rics).

and

Quote:

Farmland has become increasingly popular with families wanting to escape urban life in favour of rural settings. Buyers who are not farmers currently outnumber farmers and agribusinesses.

Peter.

mochyn

Joined: 21 Dec 2004
Posts: 24585
Location: mid-Wales

Posted: Mon Feb 13, 06 4:53 pm Post subject:
When we first came here we had no livestock and weren't going to have anything other than a few hens. There was no holding number on the land although it had had sheep on it for ever. We now have a holding number and pigs, chickens & ducks... so, in fact, we've brought the land back into agricultural use. It's what I was born to do!

Beckyess

Joined: 08 Jan 2006
Posts: 1076
Location: Worcestershire

Posted: Tue Feb 14, 06 3:15 pm Post subject:
Yippeeeee!! Means I shouldn't pay over the odds for my small piece of Somerset! WHen I get round to looking for it Becky

Nanny

Joined: 17 Feb 2005
Posts: 4520
Location: carms in wales

Posted: Tue Feb 14, 06 3:18 pm Post subject:
thank god for that maybe we will get our proper land after all

gil
Downsizer Moderator

Joined: 08 Jun 2005
Posts: 18415

Posted: Tue Feb 14, 06 3:32 pm Post subject:
Yes, but that still means land prices are about 20% higher than in 2003, which is bad news. Round here, the fact that non-farmers want to buy land pushes prices up even higher than they would go if it were mainly farmers bidding.

Beckyess

Joined: 08 Jan 2006
Posts: 1076
Location: Worcestershire

Posted: Tue Feb 14, 06 3:38 pm Post subject:
House prices are falling too so I think there is a downward trend. I am not convinced that high land/house prices are sustainable and we are going to have a big thump again in the not too distant future! Becky

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