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Friday, 22 August 2014

Tynedale: Land value at record high

DESPITE another poor harvest, farmers are sitting pretty, with the value of farmland at a record high.

The average value of English farmland reached £9,100 per acre last year – a rise of five per cent, which follows a 14 per cent increase during 2011.

Both bare and equipped land values are at historic high levels.

Land agents Smiths Gore said bare land values had risen strongly, by a total of 17 per cent over 2012.

“By comparison the performance of equipped properties was weaker in 2012, with values holding constant in the final quarter, and increasing by a total of three per cent during the year,” said head of farm agency at Smiths Gore, Giles Wordsworth.

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