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English acres for sale down half at start of 2009

The availability of farmland for sale in England in the first three months of 2009 was almost half that seen in the same period last year, according to new figures from Savills.

(Source: Farmers Weekly Interactive, 25 Mar 2009)

The firm estimated that 11,000 English acres were publically marketed in the first three months of the year, compared with nearly 20,000 acres in the first quarter of 2008.

Head of research Ian Bailey said, “Demand is still there. Our applicant numbers are the same at the end of this quarter as they were at the end of last year."

Mr Bailey said the recession was unusual in that interest rates remained low, while previous economic downturns had seen higher rates force those servicing big debts to seek sales. “In many cases, debt is not a problem this time and interest rates are helping people stay put.”

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