The rural property market is buoyant at the moment, according to a leading rural surveyors and consultants.
Davidson & Robertson, which has an office in Cockermouth, said the market was ticking upwards.
Chris Edmunds, D&R director and head of agency, said: “Confidence in what we can achieve for both buyers and sellers is very encouraging and continues to grow.
“The uncertainty of higher interest rates, coupled with the effect of Brexit and policy changes, has held the market back, but there are now more properties coming to market as this uncertainty is lifting and sellers are making a move.
“Other factors influencing decisions to sell relate to changes in circumstances, with some choosing to retire, others looking at restructuring their farming enterprises and some selling due to lack of succession.
“Some are transitioning from traditional farming and want to cash in on environmental enhancements. We are also likely to see more smaller pockets of land come to market from sellers looking to reduce debt when faced with higher borrowing interest rates.
“During the first quarter of 2024, there has been strong interest in selling farms and pockets of land. We have been approached by a lot more sellers this spring compared to last year, but not all were ready to launch just yet. For some, the extremely cold and wet weather has delayed their properties coming to market, waiting for the ground to dry and fields to green up so their properties look their best.”
Davidson & Robertson said it was gearing up for a busy year, which is kick-starting this month with the launch of several properties including Woodside House and land, Waberthwaite, and Wood Farm, Cockermouth.
For some, the wet and cold winter and spring have their solidified decision to sell later in the year or in 2025, so getting the right advice at a very early stage is important, the firm said.
Chris said, “Conversations about planning, preparation and market appraisals at the start of the decision-making process are crucial and can help iron out issues and uncertainty as well as making the process less daunting.”
