Opportunity knocks for local land buyers
Savills research has suggested that there is a window of opportunity for local land buyers across the East Midlands. Anthony Oliphant of the Savills farm agency department in Nottingham said: “This analysis of potential earnings set against the cost of borrowing may be short-lived, since interest rates are bound to increase to more normal levels. But it might represent an excellent opportunity for farmers and landowners to expand or invest in their holdings in the short term, and with five-year fixed rates at around 5 per cent, they could extend the era of cheap money for a few years at least.” According to the recently published Savills Agricultural Land Market Survey, the proportion of farmers who purchased farms and land increased to 60 per cent in 2009 from just more than 50 per cent in 2008.
