
A woodland plantation recently on the market in Yorkshire could have been sold three times over, says land agency firm Strutt & Parker.
A woodland plantation recently on the market in Yorkshire could have been sold three times over, says land agency firm Strutt & Parker.
The successful sale demonstrates the explosion in enthusiasm for woodland ownership in the last five years.
Tobias Burckhardt, a land agent in Strutt & Parker's Harrogate office, said: "Buyers are clamouring for their own piece of Eden. There is no shortage of demand for woodland and we have sold some 200 acres in recent years. We know a number of frustrated buyers who missed out on this recent sale - we could have sold the woodland three times over."
He said woodland prices varied from £2,500 per acre for larger blocks to £5,000 per acre for smaller woodlands. The Yorkshire region has seen a two-fold increase in prices since the credit crunch began in 2008.
He added: "It is the amenity value rather than the timber itself that drives the market - from preserving the countryside or feeding a woodburner at home to acting as an extended garden for outdoor activities such as camping, beekeeping or woodcraft.
"This explains the higher value of smaller blocks which are seen as more manageable and therefore more attractive to lifestyle buyers, unconcerned about economic returns, who pay higher prices."
Burckhardt said: "The idea of owning woodland to escape from the rat race at weekends is increasingly popular. Most lifestyle buyers are looking for somewhere for children to run riot and build swings and dens."
The areas north of Harrogate and on the edge of the Yorkshire Dales National Park have proven particularly popular with buyers in recent years, because they are easily accessible yet feel remote, he said.
"The investment potential provides another dimension for buyers. There is no Stamp Duty provided the purchase price is below £150,000, there are capital gains tax concessions and there is generally no income tax on timber sales. Owners can also benefit from Inheritance Tax exemptions."
He added: "High woodland values are a boon for landowners and farmers who can release equity from outlying woodland or shelter belts which are otherwise a management burden, often mitigating the need to sell off core assets."
For advice and information on selling woodland, contact Tobias Burckhardt in Strutt & Parker's Harrogate office on 01423 706786.