Tynedale: Land value at record high
Published at 07:40, Wednesday, 23 January 2013
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.
Published by http://www.hexhamcourant.co.uk