Rent Prices - RICS

Published 19 March 14

  • Rent levels across England and Wales have been quite variable between H2 2012 and H2 2013. The average rent level for pasture land in England and Wales (ATA 95) rose by £4 (1.9%) from £241/hectare in H2 2012 to £245/hectare in H2 2013. There was however a £24 (9.0%) half-yearly decrease between H1 2013 and H2 2013.
  • The highest rental level for pasture land (under ATA 95) in H2 2013 was seen in the North West with an average rental level of £371/hectare, this was also  the largest increase between H1 2103 and H2 2013 at £68 (22.4%).
  • Rent prices for pasture land (under ATA 95) decreased in the East Midlands, North East, South East, West Midlands, Yorks and Humber and Wales between H1 2013 and H2 2013. The largest fall was seen in Wales, decreasing from £290/hectare in H1 2013 to £198/hectare in H2 2013 a reduction of £93 (31.9%).
  • The lowest rental value (under ATA 95) in H2 2013 was seen in the South East region, with an average rental value of £192/ hectare for pasture land.
  • The average rental price for arable land in England and Wales (under ATA 95) rose from £378/hectare in H1 2013, to £387/hectare in H2 2013, a 2.4% rise. The largest increase of the half year and the highest price paid for arable land (under ATA 95) was seen in Wales, which saw a rise of  £136/hectare between H1 2013 and H2 2013 to an average rental price of £445/hectare.

Rent Levels for Dairy Farms in England and Wales

 

AHA 86

ATA 95

 

£/ac

£/ha

£/ac

£/ha

H2-2013

57

141

99

245

Note= All figures are median only. Data is based on surveyor opinions of bare farmland rents. England and Wales rent figures are the weighted average of all regions.

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

Note: There are  two types of agricultural tenancy in operation,  AHA 86 and ATA 95. Those agreed before 1 September 1995 are  known as 1986 Act tenancies (AHA 86)  and those agreed after 1 September 1995  are known as Farm Business Tenancies (ATA 95). These two types of tenancy operate quite differently. For example, AHA 86 tenancies carry succession rights whereas Farm Business Tenancies are typically short term. Therefore, there are typically differing levels of rent between the two types of tenancy within the same region, with ATA 95 tenancies usually being more expensive. Details can be found at this link:

https://www.gov.uk/agricultural-tenancies

Source: RICS

Rent Prices