RICS figures show dramatic land price rise

The latest RICS Rural Land Market Survey confirms all-time high prices for farmland in the second half of 2010.

The survey assesses prices through actual transactions and land agent opinion.

Apart from Scotland, where prices fell 8%, all regions saw bare farmland prices rise, with the strongest price increases in the East Midlands, north west and the eastern region at 17%, 12% and 11% respectively.

By the end of 2010, the most expensive farmland was in the north west, at £7001/acre while the cheapest was in Scotland at £3683/acre.