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Rent Prices - RICS

Published 15 March 12

Rent Levels

• Rent levels have continued to rise. The average rent level for pasture land in England and Wales (ATA 95) rose by £34 (17.6%) from £193/hectare in H2 2010 to £227/hectare in H2 2011. There was a £22 (10.7%) half-yearly increase between H1 2011 and H2 2011.
• The highest rental level (under ATA 95) was seen in the East Midlands with an average rental level of £272/hectare. This was an increase of £37 (15.7%) from £235/hectare in H1 2011 to £272/hectare in H2 2011.
• Average rents (under ATA 95) increased the most in the South East, Yorkshire and Humber and the East Midlands. Rents in the South East increased by £49/hectare (39.5%) from £124/hectare in H1 2011 to £173/hectare in H2 2011. In Yorkshire and Humber rents increased by 18.7% (£37/hectare) from £198/hectare in H1 2011 to £235/hectare in H2 2011. Rents in the East Midlands also increased by £37 (15.7%), from £235/hectare in H1 2011 to £272/hectare in H2 2011.
• The West Midlands was the only region which experienced a decrease in average rents (under ATA 95). Average rents decreased by £10 (4.1%) from £245/hectare in H1 2011 to £235/hectare in H2 2011.

Regional rental rates (under ATA 95) generally experienced increases between H1 2011 and H2 2011, except for the West Midlands where they decreased; and in the North West where they were unchanged. The highest rental level was seen in the East Midlands with an average rental level of £272/hectare. This was an increase of £37 (15.7%) from £235/hectare in H1 2011 to £272/hectare in H2 2011. In terms of the largest increase, the South East experienced an increase of £49/hectare (39.5%) from £124/hectare in H1 2011 to £173/hectare in H2 2011. In Yorkshire and Humber rents increased by 18.7% (£37/hectare) from £198/hectare in H1 2011 to £235/hectare in H2 2011. Rents in the East Midlands also increased by £37 (15.7%), from £235/hectare in H1 2011 to £272/hectare in H2 2011.

Overall the average rent level for pasture land in England and Wales rose by 17.6% (£34) between H2 2010 to H2 2011, from £193/hectare to £227/hectare.

For more information on rent levels in different regions and for rents of arable versus pasture land click here.

ATA = Agricultural Tenancies Act 1995; AHA = Agricultural Holdings Act 1986.

Source: RICS