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Land Prices - RICS

Published 15 March 12

• The average land price for pasture land in England and Wales rose by £1,346 (10.2%) from £13,154/hectare in H2 2010 to £14,500/hectare in H2 2011. There was a £788 (5.8%) increase between H1 2011 and H2 2011.
• The highest land price was seen in the West Midlands with an average land price of £17,297/hectare, an increase of £2,471 (16.7%) from H1 2011.
• Average land prices increased the most in the West Midlands and the Eastern regions. Land prices in the West Midlands increased by £2,471/hectare (16.7%) from £14,826/hectare in H1 2011 to £17,297/hectare in H2 2011. In the Eastern region land prices increased by 15.8% (£1,853/hectare) from £11,738/hectare in H1 2011 to £13,951/hectare in H2 2011.
• Scotland, the North East and the North West all experienced a decrease in average land prices. The North East experienced the largest decrease of £1,236 (11.1%) from £11,120/hectare in H1 2011 to £9,884/hectare in H2 2011.

Regional land prices generally increased between H1 2011 and H2 2011, except for in Scotland, the North East and the North West where they decreased. The highest land price was seen in the West Midlands with an average land price of £17,297/hectare, an increase of £2,471 (16.7%) from the previous half year figures. In terms of the largest increase, the West Midlands experienced an increase of £2,471/hectare (16.7%) from £14,826/hectare in H1 2011 to £17,297/hectare in H2 2011. Eastern region land prices increased by 15.8% (£1,853/hectare) from £11,738/hectare in H1 2011 to £13,951/hectare in H2 2011. The largest decrease in land prices was in the North East where average prices decreased by £1,236 (11.1%) from £11,120/hectare in H1 2011 to £9,884/hectare in H2 2011.

For more information on land prices in different regions and for land prices of arable versus pastureland click here.

Overall the average land price for pasture land in England and Wales rose by 10.2% (£1,346) between H2 in 2010 to H2 2011, from £13,154/hectare to £14,500/hectare.

Source: RICS