Rural business leaders make Brexit reassurances

Company leaders in both the livestock auctioneers and countryside property sectors have urged for calm.

Brian Carlisle, director of property agents JR Hopper & Co which has offices in Settle, Leyburn and Hawes, said the Yorkshire Dales community will “pull together” and that families should not be put off from buying property.

Mr Carlisle said: “The demand for housing is still increasing, whether to buy or rent, and that will not change by any slight reduce in immigration. So rents will continue to rise, making the decision to buy, if you can, still very attractive to many people.

“If buyers have a good mortgage offer, on a good fixed rate, they should grab that with both hands and proceed,” he said.

“If you are selling a house, our advice is again to be positive, rational and calm. Look at all reasonable proceedable offers, and on the basis of those, make offers on the house you wish to buy.”

A more cautious tone came from Tom Fawcett, partner in the rural division of Carter Jonas land agents in Harrogate, who believes land values could fall.

“The possibility that direct payments to farmers may now be reduced, if not removed completely, has the potential to impact greatly on the rural property sector and, in the short term, lead to pressure on rents and land values,” Mr Fawcett said.

“However, the vote to leave is just one of a number of factors currently affecting the market. The recent fall in commodity prices and the oversupply in other areas of production are all playing their part in the reassessment of values.

“Conversely, there is the potential that lower land values could attract farmland investment from the UK, as well as international, buyers. In addition, a weaker sterling should improve UK exports.

“Further, whilst much remains uncertain, land, as a tangible and resilient asset, often thrives in times of adversity and a flight to land, as a safe haven should not be ruled out.”

Brian Richardson, chief executive of H&H Group Plc based in Cumbria, encouraged farmers to continue using livestock auctions, and predicated that export markets might even enjoy an uplift while the strength of the pound falls.

Mr Richardson said: “Whatever happens long term, we now need to remain positive and move forward, grasping every opportunity that comes our way to strengthen our industry.

“Our notice period with the EU is at least two years from when we formally give notice to quit so rules and regulations stay the same for at least that period. Clearly what happens to currency and the stock market in the next few months will have implications for business and, I suspect, cause trade to slow whilst people wait to see what happens.”

Mr Richardson added: “Our main market focus is with farmers, an industry heavily linked to EU support and rules, and there will be big issues to solve. These issues are not insurmountable and the industry may even get a short-term bounce through exports with the fall in currency.

“The UK agricultural industry is a world leader and we can produce food to the highest quality at a completive price and it has a real can do attitude to adapting to circumstances. We now need the politicians to deliver an environment where the industry can exploit that strength by providing continued access to markets and a positive environment for the industry to operate in.”

He concluded: “In the short term whilst we see what the politicians do, there is nothing to be done and any timetable they might be working to, so our message to our customers is that it is very much business as normal.”