According to the latest results from the Knight Frank Farmland Index, the average value of farmland in England has risen by 12% so far in 2014.
The value of English farmland increased by 2% in quarter three, building on the 9% growth seen during the first half of 2014, taking the rise in the year to date to 12%. Year on year, values have risen by an average of 15%, outperforming the housing market (+10%) the FTSE 100 (+5%) and gold (-9%).
The average value of commercial farmland without any land or buildings now stands at an average of £7,689 per acre.
According to Clive Hopkins, Head of Knight Frank's Farms & Estates team, large plots of low-value agricultural land tied up in high-value period farmhouses are selling quickly. However, the market for estates with large residential properties is less fluid. In some instances, this has led to large chunks of an estate’s farmland being sold off separately for a premium price.
“I think this trend really highlights the strength of the farmland market,” says Clive.
“Traditionally it has been the house leading the sale, now often it is the land.”
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