The market for farmland continues to rise as prices hit an all time high.
According to Dr Jason Beedell, head of research at Smiths Gore, demand continues to outstrip supply.
“Farmland prices rose by 4 per cent in the first quarter of 2011 to an all time high of £7,900 per acre, showing the strength of the market compared with others, such as the housing market, which is still weak,” said Dr Beedell.
At the end of the first quarter, bare land values averaged £5,600 per acre (£13,832 per ha), up 5% on the previous quarter. Equipped land averaged £8,600 per acre ("21,242 per ha), up 4%.
“You also appreciate just how small the market is when you look at individual regions, let alone counties. There have been only two blocks of land over 50 acres for sale in the whole of the North East since Christmas”, said Dr Beedell.