Prices compared: Buying and renting land in Britain
© Blend Images/Rex/Shutterstock Land prices are increasingly wide-ranging and unpredictable, even on a local level, with buyers more picky than ever as they carefully assess a property’s value and income potential.
This means that, while they are a useful gauge for a region, the average land prices below can tell only part of the story, say agents.
So what is the average cost of buying or renting farmland now in Britain?
We asked four of the country’s biggest agents – Strutt & Parker, Savills, Knight Frank and Carter Jonas – to share their data with us.
See also: Guide to the global land market
* Prices are in £/acre. All figures cover either the fourth quarter or agents’ most recent transactions and opinions in December. Scroll down for information about how agents collected their data.
Land values – arable |
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| Strutt & Parker | Savills | Carter Jonas | Knight Frank | |
| East Anglia | 8,500 | 9,300 | 10,500 | 10,500 |
| West Midlands | 9,000 | 9,300 | 9,750 | 8,750 |
| East Midlands | 8,400 | 8,800 | 9,500 | 10,000 |
| North England – east | 7,700 | 10,000 | 7,000 | 6,500 |
| North England – west | 8,000 | 10,000 | 6,500 | 6,500 |
| Yorkshire and Humberside | 8,200 | 10,000 | 10,000 | 9,000 |
| Scotland – north and Highlands | 5,000 | 7,500 | – | 5,000 |
| Scotland – south | 7,000 | 7,500 | – | 6,000 |
| Wales – north and south | 7,200 (north), 7,400 (south) | 7,400 | – | 7,500 |
| South East England | 9,500 | 9,800 | 10,250 | 9,000 |
| South West England | 8,500 | 8,700 | 9,750 | 8,000 |
Land values – grassland |
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| Strutt & Parker | Savills | Carter Jonas | Knight Frank | |
| East Anglia | – | – | 7,000-8,000 | 7,250 |
| West Midlands | 7,100 | 7,800 | 6,000-7,500 | 6,500 |
| East Midlands | 7,300 | 7,500 | 7,000-8,000 | 7,250 |
| North England – east | 5,500 | 7,000 | 3,500-4,500 | 3,000 |
| North England – west | 6,750 | 7,000 | 4,500-5,500 | 3,000 |
| Yorkshire and Humberside | 6,000 | 7,000 | 4,500-7,500 | 6,000 |
| Scotland – north and Highlands | 2,000 | 3,800 | – | 2,500 |
| Scotland – South | 2,750 | 3,800 | – | 3,000 |
| Wales – north and south | 5,600 (north), 5,800 (south) | 6,400 | – | 5,750 |
| South East England | 7,500 | 8,700 | 6,500-7,500 | 6,250 |
| South West England | 7,000 | 7,400 | 7,000-7,500 | 6,500 |
Rents – Farm Business Tenancies (England/Wales) and Agricultural Holdings Act 2003 tenancies (Scotland) |
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| Strutt & Parker | Carter Jonas | Knight Frank | |
| East Anglia | 140-160 (arable), 70 (pasture) | 150 | 140 |
| West Midlands | 120 (arable), 115 (pasture) | 150 | 140 |
| East Midlands | 150 (arable), 70-100 (pasture) | 150 | – |
| North England – east | 130-215 (arable) 80-110 (pasture) | 130 | 130 |
| North England – west | 130-135 (arable) 110-130 (pasture) | 130 | 130 |
| Yorkshire and Humberside | 125 (arable) 100 (pasture) | 160 | – |
| Scotland – North and Highlands | 70 (arable) 45 (pasture) | – | – |
| Scotland – South | 75-80 (arable) 43-55 (grassland) | – | – |
| Wales – north and south | 130 (arable) 110 (pasture) | – | 15 (upland) |
| South East England | 150-180 (arable), 80-100 (pasture) | 160 | 140 |
| South West England | 120-130 (arable), 80-105 (pasture) | 130 | 120 |
Rents – Agricultural Holdings Act (England/Wales) tenancies and 1991 Act (Scotland) tenancies |
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| Strutt & Parker | Knight Frank | |
| East Anglia | 75-80 (arable) 40-55 (pasture) | 75 |
| West Midlands | 80 (arable) 75 (pasture) | 80 |
| East Midlands | 65-80 (arable) 65-75 (pasture) | – |
| North England – east | 60-75 (arable) 40-55 (pasture) | 75 |
| North England – west | 90 (arable) 70-90 (pasture) | 75 |
| Yorkshire and Humberside | 78 (arable) 60 (pasture) | – |
| Scotland – North and Highlands | 65 (arable) 40 (pasture) | – |
| Scotland – South | 60 (arable) 45-48 (pasture) | – |
| Wales – north and south | 70 (arable) 70 (pasture) | 7.5 (upland) |
| South East England | 75-90 (arable) 50-60 (pasture) | 75 |
| South West England | 65 (arable) 45-60 (pasture) | 70 |
How agents collected their data
Strutt & Parker – figures reflect the price of average-quality bare land for the region (usually Grade 3). Values and rents are based on agent opinions. Rental figures are based on 50- to 100-acre blocks. Where regional land quality is very variable, a range is given.
Savills – figures are opinions of agricultural valuers, including Savills’ valuers, and other experts in each region – based on local transactions, but taking into account special purchasers, unusual properties, and market tone. Based on prime, bare land and a range of land types and grades.
Carter Jonas – figures are based on agents’ opinions of Grade 2/3 bare land, plus transactional data from the company’s database of deals done. FBT rents are for bare land and for blocks of about 100 acres.
Knight Frank – figures are agents’ opinions of bare land based on transactions they have been involved with, valuations and wider market experience. Rental figures are an average across arable and grassland – most evidence is based on arable land, and in the North West, dairy. Welsh rental values are based on mid and north Wales.