Rent Prices - RICS

Published 11 February 15

  • Rent levels across England and Wales for both pasture and arable have been quite variable between H1-2014 and H2-2014. The average rent level for pasture land in England and Wales (ATA 95) rose by £19 (8%) to £265/hectare between H2-2013 and H2-2014.
  • The highest rental level for pasture land (under ATA 95) in H2-2014 was seen in the North West with an average rental level of £371/hectare. This region had seen no price change when compared to the rental level of H2-2013.
  • The largest increase between H1-2014 and H2-2014 was seen in Wales up £62 (24%) to £321/hectare. Wales also saw an increase of £124 (63%) between periods H2-2013 and H2-2014.
  • Rent prices for pasture land (under ATA 95) decreased in the Eastern, South East and Yorks Humber, between H1-2014 and H2-2014. The largest fall between periods H1-2014 and H2-2014 was seen in the South East region, decreasing from £241/hectare to £204/ a reduction of £37(15%). The largest fall in rental price between periods H2-2013 and H2-2014 was a drop of £93 (38%) which was seen in the Eastern region.
  • The average rental price for arable land in England and Wales (under ATA 95) experienced a £9 (3%) decrease between periods H1-2014 and H2-2014. There was a 1% increase in rental prices when periods H2-2013 and H2-2014 are compared.
  • The largest percentage decrease of the half year for arable land (Under ATA 95) was seen in the East Midlands and Yorks Humber, both came down by 14%.
  • The lowest price paid for arable was seen in Wales which saw no change between H1-2014 and H2-2014 still at an average rental price of £321/hectare. Wales have had a £124 (28%) drop in rental prices between periods H2-2013 and H2-2014.

Land rent levels for dairy farms (pasture land) in England and Wales

 

AHA 86

ATA 95

 

£/ac

£/ha

£/ac

£/ha

H2-2014

57

141

107

265

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