GOOD QUALITY arable land is commonly attracting between £2500 and £3000/acre in many areas, especially in the east of England, compared with £2000-£2500 a couple of years ago.
Anecdotal evidence from land agents indicates values are stronger than those suggested in FPDSavills‘ latest Farmland Value Survey.
This showed all types of land in England ranging from an average of just over £2000/acre in the south-west to £2440/acre in the east during the first half of this year.
Prime arable land averaged between £2200 in the south-east and £2700 in the east, a rise of 16% on the previous six-month period, according to the survey.
The best dairy land was valued at £2200-£2300/acre.
Crispin Holborow, head of rural agency at Savills, agreed that the current market may be stronger than his agents have been willing to suggest.
“The lack of comparable evidence has made them more cautious about claiming higher land prices,” he said.
“My instinct is that values have actually risen higher than has been reported in some areas.”