Green investors and lifestyle buyers have become key players in the farmland market in the East of England, said rural property agents.

According to Savills' quarterly farmland survey, a shortage of supply continues to drive strong demand in the regional market, with just 578 acres of land openly marketed in the region up to the end of March – a drop of 57pc compared to the same period in 2020.

That contrasts with the national picture, as the amount of land openly marketed across Great Britain fell by 20pc to 14,987 acres.

Christopher Miles, who leads Savills rural agency teams in the East of England and is based at the firm’s Norwich office, said: "The figures don’t tell the whole story because there is a continuing preference for privately marketing property.

"Last year, for example, private sales increased by 71pc compared with 2019 as sellers quietly tested the water rather than opting for more public launches. This theme has remained the case during the first quarter of 2021."

Mr Miles said there are currently two "particularly noteworthy" types of buyer – those searching for residential and amenity properties, and environmentally-conscientious buyers or investors looking for green assets.

“The first is borne out by the latest residential analysis from Savills which shows lifestyle choices continue to drive the more discretionary markets,” he said.

“For the second, there is a strong belief that 'natural capital' will become a profitable investment in the coming years, prompting investors chasing financial returns to get in now ahead of the curve.

“In addition, farmer buyers are always in the frame for a good-quality commercial farm, blocks of land near to their existing base or opportunities for beneficial relocation.

"Now the ground is more accessible and crops are maturing we may well see a few more farms of this type on offer.”

Despite this year’s shortage to date, Savills rural research predicts annual supply will soon rise back up to the 10-year average.

“We are expecting some farmers to take advantage of the government’s lump sum exit scheme to retire, while others may find it difficult to adapt to the new post-subsidy and Brexit environment,” said Mr Miles.