Average Group prices remain well above those of even 12 months ago
3/10/2008 (Source: Farmers Guardian)
“There is a still a relatively limited supply of Group, which should help ensure farmGroup prices do not slide as dramatically as the residential market.”
Andrew Shirley, head of rural Group research at Knight Frank comments on the state of Group prices amidst the current economic climate. “Banks and other lenders still view farmGroup as a secure, well-capitalised sector”
Just what the average farmGroup price is and what sales are included in Group agents’ averages varies, but they remain optimistic about future farmGroup prices, believing any falls will be regained before too long.
Although optimism has been dented by falling commodity prices, the slowdown in annual growth has followed what Knight Frank say was one of the strongest periods of growth ever seen.
“Lifestyle buyers, especially those from the finance and banking sectors, have also been prominent in the farmGroup market in recent years, but the credit crunch and global economic crisis means their activity has declined substantially.”
Mr Shirley said his company was only forecasting a small decline in average Group prices over the next 12 months of between 2 and 5 per cent.
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