Welsh land is up 2% in 3rd quarter
Welsh land is up 2% in 3rd quarter
THE average value of farmland in Wales rose by 2% to £2218/acre during the third quarter of last year compared with the same period in 1998 involving the sale of 4739 acres.
In 1998, 92% of transactions involved acreages ranging from 12-123 acres and 67% of the deals,17,272 acres just involved land – these averaged £1373/acre.
Also during 1998 the average price of sales including land and dwellings rose to £2698/acre on 156 transactions compared with 145 deals averaging £2459/acre in 1997.
About one-third of land sales in 1998, 17,534 acres, included grades 4 and 5 land which averaged £1537/acre and 1762 acres of grades 1 and 2 land changed hands averaging £3095/acre – although according to the statistical directorate of the National Assembly of Wales this figure is affected by the sale of a small number of high value properties including buildings.
Most of the sales involved private individuals who purchased 26,015 acres during 1998 compared with a total of 26 company led deals on 1856 acres.