Philip Hoare’s Post

The Q3 update on the GB farmland market shows significant activity, with 169,000 acres marketed—up 21% from last year. England has experienced notable supply increases in arable and livestock areas, while Scotland's farmland marketed is up 39% but still below pre-2016 levels. Smaller land parcels are being sold in response to high interest rates, and larger holdings now account for 21% of total acreage. Although values are cooling, regional demand varies, with positive prospects ahead.

The Welsh government introduced a blanket approach to nitrogen application limits in Wales in 2021 despite criticism from farmers. The imposition of a universal 170kg/ha/yr nitrogen limit was due to come into effect on 30 April 2023, but a consultation on a licensing scheme to give farmers some flexibility delayed enforcement. This will take the form of an Enhanced Nutrient Management (ENM) scheme which will allow farmers to apply up to 250kg/ha/yr under certain circumstances.

I’m pleased to provide the Q3 update on the GB farmland market. This year has seen remarkable activity, with 169,000 acres marketed across Great Britain—a 21% increase compared to last year. In England, supply has grown notably, especially in arable and livestock regions. Scotland has also seen a 39% rise in marketed farmland, although it remains below pre-2016 averages. Smaller parcels are being sold as farmers respond to high interest rates, while larger holdings are becoming more prominent, making up 21% of total acreage this year. Although farmland values are starting to cool, there are regional variations in demand and pricing. The outlook remains positive, driven by the dual focus on food security and environmental sustainability.

Interesting insights from Defra’s June 2024 survey on agricultural tenanted land—most tenants have seen their land holdings remain stable, with 78% reporting no change over the last two years. Additionally, HSBC is now offering discounted loans to support sustainable farming practices 🌱. #Agriculture #Sustainability #TenantedLand

Fantastic article about the important work Mulloon Institute does, in The Australian last weekend. The link takes you through to the full story, have a read!

There was a step change in the overall supply of farmland onto the public market in Great Britain last year; 20% more land was offered than in 2022. The additional farmland marketed is largely attributed to farm business changes driven by the agricultural transition. A marked rise in farm machinery dispersal sales suggests more farmers are exiting the industry or restructuring their businesses. The Spotlight on the Farmland Market from Savills Research also suggests the rate of growth in farmland values will slow from 2024 due to weaker demand coinciding with increasing supply. The Spotlight also explores what Great Britain’s major political parties are likely to be including in their manifestos for the upcoming general election and how those pledges might affect land values. Analysis suggests planning reform and more ambitious environmental goals and targets will feature strongly.

Agroforestry, Stewardship, Stamp Duty Land Tax, Funished Holiday Lets, Working Capital, Research & Development. Just a few areas we cover in our newly published Rural Insight, a magazine of advice and thought leadership for Farmers and Rural Businesses. Written by the advisers at the forefront and on the ground. Andrew Vickery Richard Haines Neil Cox Phil Kirkpatrick Rebecca Partridge Dan Heal Oliver Bond Willem Puddy, ACA, BA (Hons) Bradley Causey Kathy Ferris Louis Smith Catherine Vickery Laura Wylie Callum Anderson Stuart Coombe Julia Banwell #UKFarmers #UKRuralBusiness #FinancialAdvice #Accountants #FinancialPlanning

Across the State, CMAs are working together to tackle big issues - like connecting catchments and communities and partnering to protect them. The Lower Kiewa Catchment Stewardship Plan involves representation from 11 organisations including community, volunteer groups, Landcare, local councils, agriculture industry and government agencies. Six new landholder projects were developed to support 4.2 kilometres of fencing and 15.9 hectares of both revegetation and woody weed control. There are now 11 landholders signed up to Management Agreements, increasing the number of areas fenced and revegetated. Read more in the statewide case studies in the Victorian CMAs' Actions and Achievements Report 2023 and Summary at https://lnkd.in/g8V8iXZK Harriet Shing Steve Dimopoulos MP Tanya Plibersek Department of Energy, Environment and Climate Action Agriculture Victoria Landcare Victoria Inc. VicWater #CMAsGetItDone

It will be interesting to see what impact, if any, the new Agricultural Landlord and Tenant Code of Practice for England will make on negotiations between landlords and tenants, and their advisers. #agriculture #farming #landlordandtenant RICS

The newly launched #Agricultural #Landlord & #Tenant Code of practice for England provides ‘guidance on the standards of behaviour expected from all landlords and tenants as well as those providing professional advice in connection with agricultural tenancy matters’ The code is based on the three principles of clarity, #communication and collaboration and it is hoped that this will benefit the industry as a whole. CLM Ltd’s Jack Sadler believes that the code will benefit everyone involved in the agricultural tenanted sector. "The code is designed to sit alongside an existing tenancy agreement and outlines best practice in relation to a number of potentially contentious issues including rent reviews, repairs/improvements and succession. Adherence to the code will hopefully help to avoid some Landlord-Tenant disputes, enable effective communication and lead to better overall working relationships." https://ow.ly/1C9950Rcx2U #propertynews #businessconsultants #landagents #britishfarming #agriculturallife #sussex #propertyrental #landlords #nfu #defra