UK Farmland Prices Hit All-time High in Q1 2011

A report published by rural estate agency and advisor Smiths Gore on April 5th suggest that farmland prices have hit the all-time high in the first three months of 2011.

As such, at the end of March the price of farmland stood at £7,900 per acre. This represents a 4% increase on the fourth quarter of 2010.

Smiths Gore experts are determined that UK farmland market is stable and is much better positioned than other property sectors.

Commenting on the findings of the research Mr. Wordsworth of Smiths Gore said that "prices are still rising due to strong demand, from both farmer and non-farmer buyers, and the continuing low supply of land for sale."

Earlier in 2011 the Royal Institute of Chartered Surveyors reported a 6% rise in farmland prices and outlined the regions with the cheapest and most expensive land. At the one end of the spectrum it was the North-West with prices of £17,300 per hectare, at the other end it was Scotland with prices of £9,100 per hectare.

If you would like to view a detailed report by Smiths Gore for Q1 2011, please, refer to the agency's official website.