Farmland prices in South West hit record high
Farmland prices in the South West reached record levels during the second half of 2012, as demand for commercial farmland continued to grow, says the latest RICS Rural Land Market Survey, H2 2012.
The average price per acre for farmland in the region increased to £6,875 during the second half of 2012. Surveyors attribute the strength of farmland prices to increased demand and lack of available land.
Across the country, the majority of demand continues to be driven by commercial farmers, keen to expand production to capitalise on high agricultural commodity prices.
James Stephen, Somerset spokesperson for Carter Jonas LLP: “The overall average price for farm land has risen as demand continues to outstrip supply although as ever, location is vital and the value of similar quality land can vary significantly over relatively short distances.”
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