Key findings from CAAVs survey
THE next big insight into FBTs will come with the publication next spring of the Central Association of Agricultural Valuers 1997 annual let land survey.
The 1996 survey, the 20th, was the first since the new Act was introduced. Covering 260,000 acres countrywide, some of its key findings were:
• A net gain of nearly 33,000 acres was seen in the let sector, compared with previous annual losses of between 50,000 and 75,000 acres.
• The average length of FBTs ranged from two months to 99 years, averaging just over four years.
• Bare land was let for an average of three years, land with buildings for four years and land with a house and buildings for 11 years.
• Bare land units dominated and were often small – leaving 43% let in larger, equipped units.
• Over 80% of expiring Agricultural Holdings Act Tenancies were re-let as FBTs. And all but 2.4% of the land upon which a short-term agreement came to an end was relet.n