National View
Average arable land values across England and Wales increased by 2.5% during Q3 and 3.5% over the last 12 months to £8,733 per acre. Pasture land also recorded a rise in values – by 2.0% over the quarter and 3.5% since Q3 2020 – to reach an average of £6,961 per acre.
This was the largest annual increase for both land types since the second half of 2016. Although the actual values are still well below those recorded during that year, the growth levels are now showing a more positive picture for the market.
The summer months have been very busy across most regions of England and Wales, with plenty of stock either already completed or currently under offer. The demand from buyers has been extremely strong and positive, and due to the lower levels of stock available, competition for assets has been substantial.
Although we, and other rural commentors, have spoken about the high demand and low supply trend for at least the last two years, this is the first time we have seen land values noticeably shift as a result.
Small-to-medium size lots and parcels of land continue to be prominent in the sales market, with larger lot sizes remaining limited. Country homes in commutable locations and towns remain attractive, with many buyers still looking to relocate outside of main cities – a trend which we do not expect to slow any time soon.
Evidence from Farmers Weekly showed that approximately 16,800 acres of land were publicly marketed between July and September, 46% down on Q2 2021 and 40% below the same period of 2020. This provides clear evidence of the supply shortage this summer, and this is expected to continue into early 2022, as early projections for stock ready to market next spring remains low.
£8,733
per acre
Average
arable land value in q3
Q-ON-Q
CHANGE
2.5%
3.5%
y-ON-y
CHANGE
£6,961
per acre
Average
PASTURE land value in q3
Q-ON-Q
CHANGE
2.0%
3.5%
y-ON-y
CHANGE
Farmland market update q3 2021
Key data and expert commentary outlining trends in the farmland market
"Small-to-medium size lots and parcels of land continue to be prominent in the sales market, with larger lot sizes remaining limited."
Average land values in
England and Wales
FIGURE 1
Publicly marketed
farmland supply
FIGURE 2
FIGURE 3
Commodity price trends
Source: Carter Jonas, AHDB, Farmers Weekly, DEFRA
Inputs
Outputs
Crude Oil
Fertiliser
Red Diesel
Feed Wheat
Rapeseed Oil
Milk
Beef
Pork
Average land values in
England and Wales
FIGURE 1
Publicly marketed
farmland supply
FIGURE 2
Average land values in
England and Wales
FIGURE 1
Source: Carter Jonas
Average land values in
England and Wales
FIGURE 1
Average land values in
England and Wales
FIGURE 1
12,000
10,000
8,000
6,000
4,000
2,000
0
Sep 2013
Sep 2021
£ per acre
Pasture
Arable
Publicly marketed
farmland supply
FIGURE 2
Source: Farmers Weekly
Acres
As at November
180,000
10,000
80,000
4,000
40,000
0
Sep 15
Sep 16
Sep 17
Sep 18
Sep 19
Sep 20
Sep 21
CRUDE OIL
Unit
Latest data
Date
Quarterly change
Annual change
£/barrel
53.5
Sep ‘21
4.4%
67.0%
Fertiliser
Unit
Latest data
Date
Quarterly change
Annual change
£/tonne
346.0
Aug ‘21
21.7%
58.4%
Red Diesel
Unit
Latest data
Date
Quarterly change
Annual change
pence/litres
67.2
Sep ‘21
5.1%
30.5%
Feed Wheat
Unit
Latest data
Date
Quarterly change
Annual change
£/tonne
197.5
Sep ‘21
7.1%
6.0%
Rapeseed Oil
Unit
Latest data
Date
Quarterly change
Annual change
£/tonne
509.7
Sep ‘21
14.9%
43.4%
MILK
Unit
Latest data
Date
Quarterly change
Annual change
pence/litre
31.2
Aug ‘21
3.7%
11.4%
BEEF
Unit
Latest data
Date
Quarterly change
Annual change
pence/kg dw
411.3
Sep ‘21
4.6%
11.3%
Pork
Unit
Latest data
Date
Quarterly change
Annual change
pence/kg dw
164.6
Aug ‘21
6.6%
-0.9%
Click a location for
a local overview
East of england
Arable
Pasture
Lifestyle
Silts and Fen
£6,000
£5,250
£13,000
£7,000
£10,000
£9,250
£21,000
£11,000
£8,250
£6,750
£16,500
£8,750
3.1%
0.0%
3.1%
0.0%
5.1%
3.8%
10.0%
2.9%
Low
£ / acre
Prime
£ / acre
Average
£ / acre
Quarterly %
Annual %
East of England land values
Sep 16
Sep 21
£ per acre
£0
£12,000
Arable
Pasture
North west
Arable
Low
£ / acre
Prime
£ / acre
£ / acre
Quarterly %
Annual %
Average
£7,750
£5,500
£250
£11,000
£8,500
£1,750
£9,500
£7,000
£1,000
0.0%
3.7%
25.0%
0.0%
3.7%
25.0%
Pasture
Hill
EMAIL DEBORAH
01539 814914
Associate Partner
Deborah Lund
North West land values
Sep 16
£0
£12,000
Arable
Pasture
£ per acre
Sep 21
Wales
Arable
Low
£ / acre
Prime
£ / acre
£ / acre
Quarterly %
Annual %
Average
£8,000
£4,000
£500
£9,000
£8,000
£1,500
£8,500
£6,000
£1,000
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Pasture
Hill
EMAIL Hugh
01248 360417
Associate Partner
Hugh O’Donnell
Wales land values
Sep 16
£0
£10,000
Arable
Pasture
£ per acre
Sep 21
South WEst
Arable
Low
£ / acre
Prime
£ / acre
£ / acre
Quarterly %
Annual %
Average
£8,500
£5,000
£11,000
£9,000
£9,750
£8,000
10.8%
5.3%
14.7%
10.3%
Pasture
EMAIL David
01823 428591
Partner
David Hebditch
South West land values
Sep 16
£0
£12,000
Arable
Pasture
£ per acre
Sep 21
North east
Arable
Low
£ / acre
Prime
£ / acre
£ / acre
Quarterly %
Annual %
Average
£6,000
£4,000
£1,500
£10,250
£8,250
£6,250
£2,600
£13,250
£7,000
£5,500
£2,000
£11,750
3.7%
4.8%
5.3%
2.2%
3.7%
4.8%
5.3%
2.2%
Pasture
Hill
Lifestyle
EMAIL Sam
01423 707801
Associate Partner
Sam Johnson
North East land values
Sep 16
£0
£10,000
Arable
Pasture
£ per acre
Sep 21
Yorkshire and the Humber
Arable
Low
£ / acre
Prime
£ / acre
£ / acre
Quarterly %
Annual %
Average
£7,500
£5,000
£1,500
£10,250
£10,250
£6,750
£3,600
£12,250
£8,500
£6,500
£2,500
£11,250
3.0%
4.0%
4.2%
2.3%
3.0%
4.0%
4.2%
2.3%
Pasture
Hill
Yorkshire Wolds
EMAIL Sam
01423 707801
Associate Partner
Sam Johnson
Yorkshire and the Humber land values
Sep 16
£0
£12,000
Arable
Pasture
£ per acre
Sep 21
£10,250
£15,250
£12,750
2.0%
2.0%
Lifestyle
East Midlands
Arable
Low
£ / acre
Prime
£ / acre
£ / acre
Quarterly %
Annual %
Average
£6,000
£5,900
£13,000
£9,800
£8,000
£25,000
£7,850
£6,800
£16,500
0.6%
0.0%
0.0%
1.3%
0.0%
n/a
Pasture
Lifestyle
East Midlands land values
Sep 16
£0
£12,000
Arable
Pasture
£ per acre
Sep 21
West Midlands
Arable
Low
£ / acre
Prime
£ / acre
£ / acre
Quarterly %
Annual %
Average
£7,500
£6,250
£8,000
£12,250
£9,250
£12,000
£9,600
£8,000
£10,500
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Pasture
Lifestyle
EMAIL MICHAEL
07801 173004
Associate
Michael Paton
West Midlands land values
Sep 16
£0
£12,000
Arable
Pasture
£ per acre
Sep 21
South east
Arable
Low
£ / acre
Prime
£ / acre
£ / acre
Quarterly %
Annual %
Average
£8,750
£7,250
£13,000
£10,250
£8,400
£20,000
£9,650
£8,100
£15,000
1.6%
1.3%
7.1%
4.3%
4.5%
11.1%
Pasture
Lifestyle
EMAIL Andrew
01962 833386
Partner
Andrew Chandler
South East land values
Sep 16
£0
£12,000
Arable
Pasture
£ per acre
Sep 21
Wales
West Midlands
East Midlands
South west
South east
East of england
Yorkshire & the humber
North east
North west
EMAIL Andrew
020 7518 3212
Head of Rural Agency
Andrew Fallows
EMAIL CATHERINE
01604 608203
Rural Consultant
Catherine Penman
Get in touch
Click a trend for more info
Q-ON-Q
CHANGE
y-ON-y
CHANGE
WEST MIDLANDS
NORTH EAST
SOUTH WEST
WALES
NORTH WEST
YORKSHIRE & HUMBER
EAST MIDLANDS
EAST OF ENGLAND
SOUTH EAST
2019
EMAIL Robert
CLOSE
01539 814914
Senior Surveyor
Deborah Lund
View on desktop for a full overview
2019
CLOSE
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North East land values
Sep 16
£0
£10,000
£ per acre
Sep 21
EMAIL Sam
01423 707801
Associate
Sam Johnson
2019
CLOSE
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Yorkshire & The Humber
land values
Sep 16
£0
£12,000
£ per acre
Sep 21
EMAIL Sam
01423 707801
Associate Partner
Sam Johnson
2019
CLOSE
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Wales land values
Sep 16
£0
£10,000
£ per acre
Sep 21
EMAIL Hugh
01248 360417
Associate Partner
Hugh O' Donnell
2019
CLOSE
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East Midlands land values
Sep 16
£0
£12,000
£ per acre
Sep 21
2019
CLOSE
West Midlands land values
Sep 16
£0
£12,000
£ per acre
Sep 21
EMAIL Ben
07801 173004
Associate
Michael Paton
2019
CLOSE
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East of England land values
Sep 16
£0
£12,000
£ per acre
Sep 21
EMAIL Jack
01223 346628
Partner
Mark Russell
2019
CLOSE
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South East land values
Sep 16
£0
£12,000
£ per acre
Sep 21
01962 833386
Partner
Andrew Chandler
EMAIL Andrew
2019
CLOSE
View on desktop for a full overview
South West land values
Sep 16
£0
£12,000
Arable
Pasture
£ per acre
Sep 21
EMAIL david
01962 833386
Partner
David Hebditch
Arable
Pasture
Arable
Pasture
Arable
Pasture
Arable
Pasture
Arable
Pasture
Arable
Pasture
Arable
Pasture
Arable
Pasture
View on desktop for a full overview
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Small-to-medium size lots and parcels of land continue to be prominent in the sales market, with larger lot sizes remaining limited. Country homes in commutable locations and towns remain attractive, with many buyers still looking to relocate outside of main cities – a trend which we do not expect to slow any time soon.
EMAIL MARK
01223 346628
Partner
Mark Russell
EMAIL MARK
01223 346628
Partner
Mark Russell
EMAIL mark
01223 346628
Partner
Mark Russell
The trends of the land market have been mirrored in the rural leisure sector, in that much of the limited stock that has come to market is currently under offer or sold. However, with the holiday letting season now coming to an end, we expect some stock to be released and fulfil the pent-up demand from buyers who are looking to acquire in, and benefit from, the booming leisure market.
£7,500
£12,000
£9,000
0.0%
0.0%
Stilts and Fen
160,000
100,000
80,000
60,000
40,000
20,000
0
The trends of the land market have been mirrored in the rural leisure sector, in that much of the limited stock that has come to market is currently under offer or sold. However, with the holiday letting season now coming to an end, we expect some stock to be released and fulfil the pent-up demand from buyers who are looking to acquire in, and benefit from, the booming leisure market.
120,000
140,000
