Demand for land in Cumbria is at an unprecedented level, with the sums paid for it in recent weeks being up to 40 per cent above guide prices, according to county firm H&H Land and Estates.
The company says the end of September saw the closing date for the sale of several parcels of land in the Penrith area.
With multiple offers received on all the properties, they sold for sums ranging from 17 to 40 per cent above their guide prices.
Sold by the Carlisle office of H&H Land & Estates, the properties included 89 acres of land at Troutbeck, 14 acres to the west of Penrith, 27 acres at Mungrisdale and eight acres at Greystoke.
Interest came from farming neighbours, farmers from outside the area and investors looking to take advantage of current tax regimes, as well as forestry, lifestyle and amenity purchasers.
Thomas Armstrong, director and chartered surveyor for H&H Land and Estates, said: “Given the year we have all had and the turbulence COVID-19 has caused the industry, we are absolutely thrilled to have received so many offers on these recent land sales.
“It is certainly encouraging that the land market appears to still be so strong as we head into the final quarter of the year, with such buoyant prices being achieved.
“Unusually for this time of year we are still bringing further land opportunities to market and I believe there are a variety of reasons why people are keen to sell now.
“Some are wanting to release capital while others are looking to take advantage of the current tax allowances, and of course people retire or have acreages which are surplus to their current farming requirements.”
