22 May 1998

Grass keep value tumbles

GRASS KEEP leased at auction this spring showed a 30% drop in value compared with last year, report auctioneers Stags, who have dealt with more than 5700 acres.

The fall in value of land let privately was about half this, however, with such deals typically done earlier and proving more stable between seasons, says the firms Richard Pringle.

In North Devon, the average was approaching £100/acre, while typical prices elsewhere in the county were nearer £80/acre. &#42