Tell us more about your role

I am a chartered surveyor and registed valuer at Carter Jonas specialising in the undertaking of secured lending and tax valuations. My area of expertise lies in the sale of rural land, estates, equestrian and leisure properties.

What does your agency specialise in?

At Carter Jonas we help individuals with all aspects of residential lettings and buying and selling property. We also have a dedicated team to the sale and marketing of new build homes and residential development sites.

What type of properties are you currently seeing the highest demand for?

In the last few years we have seen a growing demand for bare farmland sold with the benefit of Vacant Possession. The demand for equestrian or amenity land also remains high, particularly for buyers who are perhaps looking for a change of lifestyle or have reached a certain stage of life and are looking for a different type of property.

Have you noticed a difference in activity since the recent interest rate drops? Along with a push to complete transactions before the new SDT rules come into play?

We haven’t seen much of a change of pace in the rural market but we find that most buyers for these types of properties tend to have different motivations and are prepared to wait for the right property to come along. That said, changes to interest rates and SDLT will have no doubt have played a part in their motives, encouraging those who have been waiting for the right time to start moving again.

What is your view on auction as a method of sale?

For the correct property, selling via auction is the best strategy. The right sort of rural property will be for sale as a whole lot and will normally have something quirky about it. Selling via auction can help to progress what might typically be a more protracted sale so it’s a win-win for both buyer and seller and everyone sees the value.

While the interest and demand from sellers and buyers hasn’t really changed in the rural space, what we have seen in this type of market is more nervousness that sales may fall through closer to the point of exchange, especially as the process can take quite a long time. With auctions you get more certainty and security which is certainly appealing to many.

What do you think will be the biggest trend for the first half of 2025?

The changes to Inheritance Tax on rural land announced in the last Budget means that full agricultural property relief (APR) will now be capped at £1m. Over the next few months we expect landowners will start looking at how they might be able to extract value from rural estates. This could lead to smaller blocks of land being brought to the market.