Farmland prices in England have increased a further 2% since 30 June, bringing the total price increase so far this year to 10%, according to the latest data from Smiths Gore.
The amount of land for sale in England is comparable with 2010 figures. Between 01 July and 15 August, 17,200 acres of land were brought to market, compared with over 17,100 acres in the same period in 2010.
‘So far this year we have seen equipped farm values outperform bare land, a trend which continues in our latest data. Since 1 July, equipped values have increased 2% whilst bare land values have increased 1%, bringing growth over the year to 11% and 7% respectively,’ said Giles Wordsworth, head of farm agency at Smiths Gore.
The data also shows an increased supply in many regions. ‘Despite overall supply being consistent with this time last year, supply has increased in six out of eight English regions, including a 46% increase in the North West,’ explained Wordsworth.