It is out again, full of fascinating and useful information, facts and figures.
The Knight Frank Rural Report is a bi-annual production which delves deep into all current rural matters. It should be read by all land and estate owners, not to mention their professional advisers. The report is insightful and progressive and I always find it very forward-thinking in its advice in what is often considered a rather dusty and old-fashioned world.
This edition, not surprisingly, starts with an intelligent look at the largest single issue currently affecting us all and particularly the farming industry.
What does Brexit mean for current and future land prices? The weak pound, low interest rates and favourable tax incentives make land more attractive than ever however the threat to future subsidy support makes it a more risky investment, but are there opportunities?
The weaker Sterling makes UK produce and exports cheaper in a world market giving farmers a much needed financial boost but how might future immigration plans impact intensive farming which relies on the influx of seasonal European workers?
The regional farm land value focus makes for interesting reading. In my role purchasing residential farms and estates on behalf of my clients at The Buying Solution, I understand and appreciate the significance location, amongst many other factors, has on value.
I would concur that, despite the turbulence caused by Brexit, land values have held up well. This is particularly interesting given the large surge of openly and privately available land that has become available since the beginning of August this year.
The report on the Raynham estate in Norfolk is a valuable read for any landowner. The estate is investing for the future and it highlights the importance of the next generation and maintaining a successful and profitable enterprise as we move through the 21st-century. This is further explained and expanded upon in the penultimate article “contemporary thinking for the modern estate.”
The Rural Report is an essential read for all of us involved in the UK farms and estates industry.