Tuesday 30th November 2021
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Prime farmland prices climb in a ‘two tier’ market

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Prime arable land prices in the East of England rose four per cent over the past year in a thin market driven by a shortage of supply and high demand. Figures from Savills show that 9,842 acres of farmland were publicly marketed across the region to the end of September this year, down eight per cent on the period last year. But demand remains strong with values for high quality arable land in the East now averaging £8,849 an acre. The average price for all types of farmland in the region sits at £8,227 an acre, up three per cent on 2020 and 16 per cent higher than the GB average.

Oliver Carr, from the agent's farm agency team in Cambs and Suffolk, said: “Here in the East a two tier market has emerged where average values for poor arable land fell by 1.3 per cent. But where ‘best in class’ high quality arable land or residential and amenity farms have come to the market it has usually led to competitive bidding and in a number of cases some spectacular prices being achieved.”