Two Cumbrian farms have sold for nearly 50 percent over their asking price as demand for land continues to surge.
According to H&H Land and Estates, the auction saw the two farms sell for far over their estimate, to jointly realise over five million pounds.
The company said it was 'amazed' by the competition for these two agricultural holdings and the amounts that they made.
The first farm to go under the hammer was Fowlpool Farm, Brampton, an 82.8 acre stock farm with a three bedroom traditional farmhouse and a range of outbuildings.
This was followed by the 253.60 acres, East Farm in Wigton, another stock rearing farm, with a four bedroom farm house and adjoining outbuildings.
Fowpool - offered with a guide of £990,000 - sold for £1,420,00 which was 43% more than its guide price. There were 15 bidders, and it was eventually sold as a whole to a neighbouring farmer.
East Farm sold in eight lots to a variety of purchasers for 53% more than its guide price, to total £3,658,000 against a guide price of £2,395,000.
Thomas Armstrong, director at H&H said he was 'absolutely staggered' at the demand and prices which were achieved.
"Fowlpool was sold to a neighbouring farmer, demonstrating the increasing trend for those looking at economies of scale as we head towards a new future in farming.
"East Farm and its land sold in eight lots to a variety of purchasers, mostly again farmers looking to extend their acreages."
Many who were present were not necessarily there to buy, they were there to gauge demand and perhaps consider their own options going forward, he added.
"It seems that high land and property prices are here to stay as the trend continues upwards.
"Although it is clearly a good time for existing farmers to sell, it will be interesting to see whether new entrants will now find it even more difficult to get into the business."
