Farmers, landowners and solicitors enjoyed an informative seminar and networking opportunity at Norwood Park Hotel on Tuesday.

Savills Winchester’s rural team hosted the event which saw three speakers discuss the current land market, CAP reform and an update on the housing market in the lead up to the general election.

George Syrett, head of farm agency at Savills Winchester, said: “Farmland is now fairly unique as a property asset in that the capital value bares little relevance to the income that it generates. The land market in Hampshire in 2014 is an excellent case study and reflects what is happening across the country as land values continue to rise.”

He spoke about who the buyers are, with farmers still accounting for nearly 50% of buyers, often snapping up neighbouring farms to expand their business, and explained that there has been an increase in the number of foreign buyers entering the UK land market as the UK it is seen as a safe haven for parking wealth. 

Mr Syrett also spoke about an increasing demand for large commercial farms with large average field sizes and modern grain storage.

Looking to the future, Mr Syrett said: “At the moment we have a significant number of buyers looking for bare land and there is a restriction to the amount of land on the market. Our forecasts suggest a steady increase in values.

“My opinion on the value of land is that it will level off at £12,000 to £14,000 per acre for prime arable land unless there is a fundamental shift in the capital tax laws.”

Lucian Cook, Savills UK head of residential research, discussed politics and housing market predictions, as well as explaining the proposed mansion tax.

Following this was a presentation by David Green, from the agribusiness department at Savills Salisbury office, who outlined the detail within the Common Agricultural Policy reform.

“It was clear from the turnout of about 50 people that this is a very current topic farmers are considering with a view to how this will affect their own businesses,” said Mr Green.

The seminar was well received, with attendees commenting on an informative, enjoyable talk and breakfast, as well as a good networking opportunity.