BCM Journal, Isle of Wight Edition 2023

Small Parcels,
Big Prices.
We have had a busy year selling some of the most
beautiful little corners of the Isle of Wight and
Hampshire. From paddocks and parcels with
amenity and equestrian use to tranquil pastures
for offsetting.
What is a Small Parcel?
When we look back across
our sales book over the last
12 months there is huge variety in our
small parcel sales. From 0.5 acre garden
extensions to 15 acres of pasture with
ponds and copses. It is impossible to
strictly define what we mean by small
parcels but somewhat like an elephant
(albeit not in size)we feel you know one
when you see one.
Trends
Whilst pinning a firm definition on a
paddock is difficult, one consistency we
have noticed over the last 12-24 months
is a significant hardening in values,
by as much as 25% in many cases and
with prices achieving above their guides
most of the time where the fields are
located on the edge of the most soughtafter
villages – without any planning
advantage.
The Traditional Market
The traditional buyers of small parcels
of land tend to be local or adjoining
owners wanting more space to increase
the amenity of their existing property
and/or those of an equestrian bent
wanting to keep a horse or two closer to
home. Whilst these remain the core of
the market we have seen some interesting
new types of buyers emerge.
Dog Owners, Glampers and
Offsetters
As we know, Covid lockdowns saw an
increase in dog ownership and perhaps
surprisingly, this has led to strong demand
from dog owners wanting somewhere to
exercise their beloved hound.
In addition to these, we are seeing
increasing interest from people with
strong environmental and conservation
instincts. These could be individuals
looking to improve the biodiversity of a
parcel of land for their own satisfaction
or businesses looking to offset carbon,
nitrogen or biodiversity harm caused
elsewhere.
These new parties have combined with
our traditional buyers and this has led
to a significant increase in enquiries
into small parcels of land whenever and
wherever we have launched them.
They don't make it anymore!
The perfect paddock will of course
appeal to all, being on the edge of a
village, well fenced and with water, whilst
also having some environmental interest
or potential. Even if your paddock
only ticks some of these boxes (which
it inevitably will) we remain confident
that the market for small parcels is as
strong as ever with competition coming
from an increasingly diverse range of
buyers and scarcity inevitably driving
up prices.
Finally, whilst the glamping industry has
started to slow down and people head
abroad for their holidays again, buyers
are still looking for smaller parcels of
land. They either wish to run a small
glamping business or just own a piece
of land in a quiet and peaceful corner
that they can enjoy with their friends and
family. Interestingly for these buyers, it
doesn’t need to be just down the road
from home.
56 BCM Journal BCM Journal 57