OUR SEVENTH YEAR TRADING MESSAGE
18 November 2022
2022 TRADING MESSAGE
It has now become a tradition that approaching the 18th of November, the date that Threave Rural Limited was established, that we compile a brief resume of the last 12 months. It seems like only yesterday when the principals established the company on 18th November 2015 and we continue to work with the same positive enthusiasm and look forward to tackling 2023.
Our aim remains unchanged to provide that client focused, bespoke and individual approach to all areas of rural and estate agency, along with the best advice and up to date information to our rural consultancy clients. We continue to provide a 24/7 contact policy and still adopt a ‘no answering machine’ business and endeavour to be available in person for our clients whether buyers, sellers or those seeking advice at any time.
We continue with our pro-active approach rather than re-active and continue to embrace change, firmly believing that where there is change there are new and un-tapped opportunities. Given the dynamic and fast-moving market we are involved in, we try to ensure we are meeting the needs and ever-changing demands of the sector.
With Brexit done and the pandemic, hopefully a bad memory, we continue within an ever-changing political climate, it appears that the country at this time lurches from one crisis to another. That coupled with a threat of Indy2, we will ensure that complacency does not creep in and we hope that the financial markets recover significantly to allow some level of confidence in all sectors. It is fair to say that the costs of inputs, borrowing, etc., will begin to filter down into the marketplace.
Our property sales have been phenomenal again this year and we are delighted with the market share we are receiving and always look forward to the next exciting instruction. We have seen a diverse portfolio of properties brought to the market and listed by Threave Rural. This includes commercial farms, rural residential, small holdings, residential dwellings, building plots, etc. and we continue to adopt the offers over method, setting reasonable guide prices inviting offers in excess of any set price and with a proven track record, we firmly believe that this system generates interest and competition, Threave Rural work with the best offer not the only offer.
Continuing the trend of last year, we have seen an upward trend in all sectors of the property market with agricultural land regularly seeing offers in excess of 10k per acre for equipped units. The number of farms, both commercial and of a smaller type, exposed to the market in 2022 has been at a level not experienced before. We at Threave Rural are delighted that we have had our share and that all have exceeded vendors expectations and met with multiple offers.
The rural residential market is one that has experienced the biggest leap but shows signs that prices may plateau. The rise in these types of properties was overdue as Dumfries & Galloway has always looked value for money.
IACS/SAF again this year was carried out remotely with the Scottish Government Rural Payments & Inspections Division remaining partially closed to the general public with a hybrid working policy, which at times has proved challenging! Again, this year, the deadline was not extended past the 15th May and we are pleased to report that all of our IACS/SAF applications were completed on time.
The method of delivery for support remained unaltered this year, albeit with a few surprise directives at any inspection. The Scottish Government, along with stakeholders such as the NFU, have been holding consultations but at the time of writing this, we are no closer to ascertaining which method, or indeed direction of travel the support systems will take. The last press reports were that 2025 would be a similar method of delivery, albeit with new rules and guidelines and quite what that means, is anyone’s guess! It would appear that the Scottish Government is more focussed on constitutional matters than our agricultural industry.
Input costs continue to cause concern and although we have seen better prices for our products i.e., beef, lamb, crops and milk, the input costs have squeezed margins with fertiliser costs, fuels costs, etc. rising to unprecedented levels and now with the interest rates rising fairly sharply, the industry is in a period of uncertainty.
We would like to thank a variety of professional firms throughout D & G for your continued support, our local and very talented local suppliers.
We pay special thanks all our customers old and new for the faith that they have shown in Threave Rural Ltd., and we look forward to continuing to serve our customers in all aspects of our business with the optimism and diligence we have applied from the conception of Threave Rural.
A W Paterson FIA (Scot)
Dawn A Roberts (BSc)
Directors – Threave Rural Ltd.