28 June 2002

VOA reveals bare land values

THE Valuation Office Agency, an executive arm of the Inland Revenue, has published bare land values in its bi-annual property market report for the first time.

Editor Rosemary Carthy said the new figures have been introdu-ced to complement those for equip-ped land. "Lotting of sales is now so prevalent much of the information we have is for parcels of land."

Although the VOA has access to all the land sales information passed to the Inland Revenue, Ms Carthy stressed the values were not actual sales results. "They are an opinion of value by valuers who look at land in the same location every six months." This means values can be given for a region even if there have been no sales. &#42

Value of unequipped land with VP as at Apr 1, 2002

Arable Dairy Mixed Hill

Region £/acre £/ha £/acre £/ha £/acre £/ha £/acre £/ha

North-east 2250 5558 1863 4602 275 679

North-west 2200 5434 2957 7304 2471 6103 250 618

Yorks/Hside 2760 6817 2367 5846 2117 5229 1100 2717

East Mids 2481 6128 2031 5017 1950 4817

West Mids 2940 7262 2450 6052 2379 5876

Eastern 2558 6318 2288 5651

South-east 2214 5469 2069 5110

South-west 2069 5110 2111 5214 1967 4858 950 2347

Wales 2664 6580 2150 5311 425 1050

Eng/Wales 2447 6044 2372 5859 2160 5335 663 1638

Scotland 1979 4888 1583 3910 1183 2922 101 249

Source: Valuation Office