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Agricultural property conversions fall due to lack of funds - report

Published 01/08/2016

A lack of funding is holding back the conversion of agricultural buildings into homes, the report said
A lack of funding is holding back the conversion of agricultural buildings into homes, the report said

The number of agriculture to residential property conversions in England has fallen by a quarter over the past year as developers suffer from a lack of funding, according to a report.

Converting agricultural buildings, such as barns and stables, into housing has been popular among farmers, said funding firm Saving Stream.

Spokesman Liam Brooke said: "Converting agricultural buildings such as barns are one of the most effective ways of combating the UK's chronic rural housing shortage and in the uncertain post-Brexit climate, UK farmers are looking to ramp up activity in this area.

"It is important that access to funding is improved, developers are keen to take up the large number of opportunities available to them but time and time again a lack of funding is holding them back."

Conversions have dropped from 563 last spring to 413 earlier this year, said the report.

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