Land in your area 2020: Wales

In contrast to Scotland and almost every region in England, Wales enjoyed an increase in land and farms on the public market in 2020, compared to the previous year.

According to Savills’ data, the acreage rose by a huge 47% and the number of farms was up 11%. Meanwhile, land values didn’t budge from 2019 prices.

Other agents say supply has been tight, particularly for larger commercial units, with farmers driving much of the demand.

See also: Land in your area 2020: South-west England

Non-farming income interest

The three Ds we hear so much about – death, debt and divorce – were very much factors in what was sold in mid- and north Wales in 2020.

We haven’t seen a pipeline of larger commercial farms, which can be explained in part by the uncertainties of Brexit. However, now a deal has been struck with the EU, I expect there will be a pick-up in activity.

Best-in-class farms are still very much in demand – the market is very strong for quality, as might be expected.

For holdings up to 100 acres in sought-after areas of Wales such as the Snowdonia National Park and the Llyn Peninsula, I would expect lifestyle purchaser interest.

However, I also had two farms in 2020 that I thought would be bought by a lifestyle buyer and both sold to local Welsh farmers, to add to their holding and to use for holiday accommodation.

Hugh O’Donnell, associate partner, Carter Jonas

Good value for money

Supply of farmland remained tight in Wales in 2020, with uncertainty about the effects of Brexit and the future of farm policy holding back sellers – as in much of the rest of the UK.

As we look ahead, it does feel as if more land could come to the market this year. We recently launched a holding of more than 1,000 acres in Carmarthenshire and Cardiganshire and have another two farms to launch this spring.

Demand tends to be farmer-driven, so values can be very diverse, depending on local interest. However, prices are generally cheaper than for equivalent quality land in England, making it an appealing prospect for buyers who want to make their money go further.

Wales also has the right ingredients – in terms of land types and values – to attract buyers interested in forestry and natural capital initiatives, although such projects would benefit from a more supportive policy framework.

Tom David, senior associate director, Strutt & Parker

What sold well?

© Carter Jonas

Carter Jonas launched Gwastadfryn Farm and Gernos, Tywyn, in Gwynedd, available as a whole or in two lots.

The 1,430-acre upland farm includes a five-bedroom Grade II listed house and a stone barn well-suited for livestock housing or general agricultural storage.

It was guided at £2m and sold as a whole.

What’s on the market?

© Strutt & Parker

In Carmarthenshire and Cardiganshire, Strutt & Parker is selling 1,028 acres, divided into two fully-equipped upland farms and one block of bare land.

The holdings at Frongoch, Brynglas and Esgair Hir additionally offer natural capital, carbon offsetting, tree planting and sporting potential.

Guided at £2.215m for the whole, the property is also available in three lots.