Demand for Land Rises in the North East

George F. White, one of the leading UK estate agencies, reports that demand for agricultural land in the North East of England is increasing as farmers have returned to the market and are willing to purchase land, which is being regarded as a safe place for investment not only by farmers themselves, but to investors and non-farmers as well. This year, George F. White has already reported completion of a number of sales, which include farms and land; two transactions were completed by auction. For instance, it was Chapel House Farm, located in the Yorkshire Dales National Park near Hawes that open the firm’s sales when sold by auction on May 19, 2009. The farm made as much as 22% over its asking price; all of the farm’s land was purchased by farmers. OIt should be noted that Chapel House Farm is a big livestock farm with meadow and pastures, which were sold for more than £5,000 per acre; other parts of the farm, which are less productive were still sold at a high price of £700 per acre, which fact proves the strength and buyers’ confidence in the livestock sector. A week later, the firm successfully sold 33 acres of land in Leyburn National Park near Askrigg for more than £5,000 per acre, which represented a stunning 49% over its asking price. In a short period of time, George F. White was able to sell a visually attractive but unproductive parcel near Richmond for more than £3,000 per acre, which represented a colossal 150% over the land’s asking price! Although, according to the statistics, equipped farms, which include houses and other building facilities, continue to sell very well, George F. White reports an increased demand for bare land on UK farmland market. It is interesting to note, that the lack of bare land results in the fact that the existing blocks are being purchased at very respectable prices, which is the reason for George F. White’s decision to follow this trend throughout the year of 2009. At the moment, George F. White North East sales teams are keeping an eye farms and lands that might be brought onto the market this autumn by company’s clients, wishing to capitalize on the current market, which can be referred to as strong.