A leading firm of auctioneers, estate agents and valuers, which has offices in Shropshire, Worcestershire and Mid Wales, expects to see more farms and agricultural land return to the market in 2010.
David Giles, a director of Halls, said the recession and instability of financial institutions during 2009 persuaded many owners not to sell their agricultural properties during the year, with result that demand far outstripped supply.
"There are lots of buyers waiting to invest in agricultural properties and there is no reason to suggest that the high value of farms and land is going to decline in 2010," he added.
"The demand is being fuelled by farmers who want to expand their operations and investors who are looking for a safe haven for their money. Agricultural property relief is an important consideration for investors who want to convert money into a tax efficient asset.
"Because there has been a dearth of agricultural properties on the market in 2009, there is bound to be a certain amount of catch up in 2010. With the financial markets appearing to be more stable, farmers and landowners are not as nervous as they were about changing the point of investment.
"My message for them is don’t be afraid to sell in 2010 because the market is good and there are plenty of buyers waiting to invest their money.
"For tax efficiency reasons, our advice to anyone thinking of selling land or a farm property in 2010 is to start the ball rolling as soon as possible with the aim of completing the sale in the current financial year.
Mr Giles, who is also chairman of Shrewsbury Auction Centre, said it had been a very successful year for livestock sales, as prices had remained strong throughout 2009.
"The market for livestock is red hot because there is a national shortage of cattle and sheep," he explained. "Many farmers have taken the option to keep less livestock because of all the rules, regulations and red tape introduced by the Government.
"The dairy industry is in the same position. Dairy cattle have never been dearer, again because of a shortage, yet there is vast difference between the best and worst milk prices. The Government has paid lip service to taking action to ensure that supermarkets pay a fair price for a quality product."
He said he was pleased that Shrewsbury Auction Centre had attracted more sheep and cattle from a wider area in 2009, whilst also attracting more buyers.
"The auction centre’s facilities are recognised as some of the best the UK and in 2010 we have plans to increase the scope of our sales," he added.
He also reported an exceptionally busy year for the agricultural professional team at Halls, with the company’s expanding range of services in greater demand.
