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Last Updated: Monday, 4 August, 2003, 07:32 GMT 08:32 UK
City buyers snap up farms
tractor
The survey says land prices have remained fairly static in recent years
More than half of people buying farms in the South West are not farmers, according to a new survey.

The Royal Institution of Chartered Surveyors (RICS) says51% of farms bought in the region are sold to non-farmers, compared with 44% nationally.

The RICS says many of those buying farms are from London and other cities.

They are attracted to small and medium sized farms, and plan to live in the house, but not farm the land.

Alex Rue, from Stags Estate Agents in Exeter, said: "Buyers from London and other cities are pricing out the farmers on some properties, but not all properties.

"There are probably more farms selling as residential farms, but there are certain commercial farms that will not appeal to residential buyers."

Smaller farms are also not profitable enough for many farmers, says the RICS.

Some farmers are selling the land individually to other farmers who are consolidating their land, while the buildings are sold off for purely residential purposes.

The RICS says land prices have remained fairly static in recent years, making it more attractive to prospective buyers.

Surveyors believe uncertainty over the reform of the Common Agricultural Policy and the future of farming has also reduced supply and demand for land among the farming community.




SEE ALSO:
Fears grow over farmer suicides
25 Feb 03  |  Wales
Charles launches farmers' helpline
06 Jan 03  |  England
Australia's farmers looking for love
10 Dec 01  |  Asia-Pacific


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