Land prices continue rise in first half of 2012

UK farmland values rose by 3.9% across all land types during the first six months of 2012, according to Savills research, marking the 10th successive year of growth.

The highest rates of growth during January to June this year were in the arable eastern counties of England. Prime arable land increased by 8% in the East Midlands and 2.9% in East Anglia to average £7,500/acre and £7,636/ acre respectively.

Scotland saw the average value of prime arable land increase by 2.2% during the first six months of the year, with the best land averaging just over £8,000/acre and smaller blocks achieving more.

The number of acres openly marketed in England between January and July fell by 14% to 58,768 acres compared with the same period of last year whereas in Scotland supply increased by 11% to 25,074 acres. Private transactions continue for substantial acreages.