This report principally focuses on average values of farmland. However, it should be noted that the market is diverse and there can be a significant range in achieved prices and growth rates. In 2010 the land market witnessed some very high prices, which in some cases reached well over £10,000 per acre in England and over £7,000 an acre in Scotland.

Savills Farmland Value Survey shows the average value of grade 3 arable land across Great Britain rose by 11% in 2010 to £5,250 per acre. This compares with a rise of 7.2% in 2009.

Farmland values continue to increase steadily, an ongoing trend since 2003 as illustrated in Graph 3 in the gallery. In England the average value of grade 3 arable land increased by 11.7% during 2010 to £5,600 per acre and in Scotland it increased by 5.8% to just over £4,000 per acre. Welsh land values followed the same pattern with average grade 3 arable land increasing by 17% to almost £4,300 per acre.

Regional growth

Our research shows a clear pattern of strong farmland growth down the eastern side of England, reflecting the strength of the commercial arable farmland market. The greatest regional growth was recorded in the North of England, where the average value for grade 3 arable land increased by 23.5%. In the East of England average values for grade 3 arable land rose by 18% and in the East Midlands by 14% (see Graph 4 in the gallery).

As in 2009, arable land recorded the strongest growth across all regions. The average value of prime arable land in the East of England is now more than £6,600 per acre at December 2010, according to our survey.

Taken from
Market Survey: Agricultural Land, 2011