Increasing land prices in West Midland area
Farm land prices have increased dramatically over the past 4 years. There has been a strengthening of demand which has now resulted in a tight supply of available and affordable land.
The average price of bare land in England and Wales has reached on average £7,500/ha (£3,035/ac) and the most expensive arable land, as recorded by the RICS in the West Midlands – has reached record values of £ 9,267/ha (£3,750/ac).
Equipped farm prices have risen around the West Midland area and residential farm values are now strong. This is likely to be due to the increasing interest shown by people outside the agricultural sector, who can benefit from using and buying agricultural holdings as tax shelters. The RICS records show that 50% of farm sales in the West Midlands are bought by farmers, the majority of the remainder (42%) are purchased by non – farmer individuals.
Farm land that lies west of the M5 is proving to be increasingly fashionable and in demand. Heather Richardson from Fisher German’s Worcester Office suggests, “This could be due to the less spoilt nature of the land.” For further information on land values please contact heather.richardson@fishergerman.co.uk
- Ashby de la Zouch
- 01530 412821
- Banbury
- 01295 271 555
- Knutsford
- 01565 757970
- Market Harborough
- 01858 410 200
- Newark
- 01949 851815
- Southampton
- 02380 883150
- Stafford
- 01785 220 044
- Worcester
- 01905 453275
