Local opinion needed on land values
Published October 31st, 2017
While arable land values have been reported as falling by as much as eight per cent in some regions, Shropshire chartered surveyor Charlotte Rogerson says there has not been such a significant decrease in the West Midlands.
“It is evident that purchasers are being more cautious,” said Charlotte who is based at the Shrewsbury office of Berrys.
“But the market is very polarised which shows that the extremities of the market are more than likely distorting the average evidence that has been provided.
“The effect of market polarisation means that it is essential for farmers to obtain a local opinion on the value of their land as factors such as access, quality, services, legal restrictions and local demand are becoming more important in an increasingly cautious market and in turn starting to have a noticeable effect on values,” she said.
“In addition, it is essential for vendors of land to be more understanding of the case specifics surrounding each comparable sale and their effect on value when considering the value of their own land,” she added.
For more information contact Charlotte Rogerson on 01743 290642 or email: email@example.com