UK: Foot and mouth will affect land prices, warns leading property firm
Savills has warned of another devastating side to the food and mouth crisis currently sweeping through the UK. The leading property firm revealed that the disease is likely to prompt a drop in the value of land in holdings away from the cities.
Such holdings are generally only suitable for commercial farming, and are attracting less and less interest from commuters and developers. Aubrey Adams, CEO of the company, explained that over the last three years farm income has plunged 70% and landowners looking to sell up in remote areas can only look to nearby farmers for some interest in a deal. This, says Savills, is adding to the threat of a two-tier land market.
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