aerial view of land© 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

  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 

  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) 

  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

  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.