Land Prices - RICS

Published 26 September 14

  • The average price for pasture land in England and Wales increased by £1,139 (6.9%) from £16,529/hectare in H1-2013 to £17,668/hectare in H1-2014. There was a £477/hectare (2.8%) increase between H2-2013 and H1-2014.
  • Wales experienced a large increase in land prices on the year (23.1% for pasture and 15.6% for arable), meaning Wales had the highest pasture land prices for H1-2014 in all of Great Britain at £19,768/hectare (£2,100/hectare higher than the average).
  • The average price for arable land in England and Wales stood at £22,200/hectare in H1-2014 an increase of £1,071 (5.1%) from H2-2013, which is £4,532/hectare more than the comparative average pasture land price.
  • The highest average land price (combined pasture and arable) was £20,386/hectare, seen in the North West, South West and West Midlands. This is an increase in average price for the South West (6.3%), a static level for the West Midlands since H2-2013, but a decrease (-6.4%) for the North West.
  • Over the period since H2-2013 to H1 2014, the North East saw the largest price decrease in percentage terms, down 20.0% for pasture land. The Eastern region saw no change in pasture prices whilst the arable land price went up by 11.1%.
  • Scotland had the lowest average land prices of £7,413/hectare for pasture land and £14,826/hectare for arable land, but this is up 20.0% from H2-2013 for both pasture and arable land and 9.09% up on the year for pasture land.

Land Prices for Dairy Farms (pasture land) in England and Wales

 

£/ac

£/ha

H1-2014

7,150

17,668

Source: RICS Land Prices - RICS

 

 

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