It has been widely reported that the residential property market is experiencing a slowdown in the number of transactions, together with a readjustment in prices from the levels reached during 2007.

At the same time, says Andrew Dodds of Stags of Exeter, we have a buoyant farm land market, with demand for farms and land with larger acreages strengthening further on the back of shortage of supply and increasing commodity prices.

So how are those properties between these two markets faring? The smallholding? So far during 2008, Stags Farm Agency has been marketing a diverse range of properties that might not be considered to be commercial agricultural units, both with and without dwellings. We have seen that there remains a healthy level of demand from lifestyle purchasers not looking to take on a working farm, but something more manageable.

Availability of such holdings is still relatively low, and with demand remaining firm coupled with the strength of the farm land market, prices appear to be holding.

Hele Vale Farm, Waterrow near Taunton totals about 80 acres, having been converted to organic status by the present owner who has developed the holding after purchasing the bare land through Stags a three years ago. Currently working an organic poultry contract in addition to beef and vegetable production, it truly is a mixed unit. There is presently a timber cabin on site with a temporary three-year licence with the potential to upgrade this to a full permission after proving the need to live on site whilst running a profitable business, which Hele Vale Farm is. The farm is guided at £600,000 and strong interest has been received to date.

Linscombe Farm, a 60 acre organic vegetable business premises near Crediton is also currently on the market with Stags. There is no dwelling but a very impressive range of adaptable modern buildings including a farm office, 15,000 sq ft of covered buildings, over 34,000 sq ft of polytunnels and all supported by 60 acres of productive organic land. Linscombe Farm certainly provides an opportunity to develop or establish an enterprise with the majority of the infrastructure in place.

We are continually receiving interest from prospective buyers wanting to purchase bare land with the intention of developing a smallholding. With more acreage required than the pony paddocks yet less than the 50 acre blocks in which we have received such strong demand in 2008, the 10 to 40 acre land parcels marketed by Stags have been selling well, including 24 acres at Monkton, East Devon and 46 acres at Bondleigh, West Devon both sold by Stags earlier in the year.

A number of land blocks shortly to come to the open market with Stags are sure to appeal to these types of buyer, including 28 acres of level pasture at Salcombe Regis with mains water and stunning views across the sea along the Jurassic Coastline and 17 acres of productive pasture near Cheriton Bishop, west of Exeter. Both lots are offered for sale by private treaty with guide prices of excess £4,500 per acre.

2:21pm Wednesday 23rd July 2008

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