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Land prices keep rising despite quiet market

The paucity of land for sale continues to lead to strong competition. It is also encouraging sellers to increase their asking prices.

(Source: www.investortoday.co.uk, 03 Dec 2010)

Dr Jason Beedell, Head of Research at Smiths Gore, said: "October to December is traditionally the quietest quarter of the year but this year we have not seen such low levels of supply since 2005."

Both base and equipped values have continued to rise, but the outlook is harder to predict.

Beedell said: "We expect to see a negative effect on the market from the proposals for the Common Agricultural Policy after 2013 as they would put UK farmers at a disadvantage compared with farmers elsewhere in Europe.

"But changes to planning rules which would encourage development in the countryside, which might be the outcome from the Localism Bill and reform of the planning system, could boost values.

"Values for equipped farms have increased 5% since 1 October. This is on top of a 7% increase in values between July and September. Values have increased 14% so far this year and 15% since the market turned in 2009 Q3.

"Bare land values have increased 6% since 1 October and a total of 14.5% so far this year."

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