John Coleman, Director of our Country House and Farms Agency comments on the effect the election result will have on his area of business.
“The 2019 farmland market was defined by the lack of the supply caused, in the main, by the uncertainty over Brexit.
The decisive nature of the result last night should now remove that barrier but don’t expect a flood of land to come to market next year as there is much work still to be done around the Agriculture Bill and in particular the changes to subsidy payments under the banner of Public Money for Public Goods so championed by Michael Gove.
The result should, however, ensure that values remain resilient going into 2020 with key influencing factors being more about serviceability of any borrowings and therefore interest rates going forward.
The business of farming will only become clearer when trade negotiations are completed and, for all concerned, we hope this is sooner rather than later.”