Fears that land values could plummet following Brexit are unfounded according to one of the country’s leading experts.

Markets remain in a state of limbo as the country moves ever closer to leaving the EU, which raises questions for those looking to buy and sell land. With Britain’s financial system heavily intertwined with both the EU and the rest of the world, there have been concerns that Brexit could result in sharp falls in land values across the country. However, Stewart Hamilton, Senior Associate in Rural Land Management at Bell Ingram, doesn’t believe this will be the case.

He said: “There’s no doubt that Brexit and the current political landscape presents some interesting questions for those looking to buy or sell land. When I started as a trainee in 2006, one of the first big news pieces I was party to, was the first farm to break the £5,000 per acre barrier. The general consensus was one of disbelief and agreement that we’d hit the ceiling and prices would go no further."

“However, fast-forward 12 years and we’re now seeing triple this price for top quality arable land across Scotland. The trend of land value has been one that’s increased steadily over the past 30 years, despite the financial crash of 2007, and Stewart believes Brexit won’t impact either.

He added: “Sentiment alone pushes farmers to pull out all the stops to buy a neighbouring property. Rates of return, yields on investment and levels of gearing all get forgotten when the competition begins. It is for this reason, combined with the favourable agricultural property reliefs available when passing the farm to the next generation that I see no reason for land values to decline, regardless of the outcome of Brexit."

“The continuation of the weak pound, slow economic UK growth and steady inflation are unlikely to raise the cost of borrowing in the short to medium term which should continue to maintain demand", concluded Stewart, who joined Bell Ingram’s Forfar office in 2006 and heads up the firm’s Farm Agency.