South West of England
Across the South West of England during 2014 the volume of farmland publicly marketed increased by 29 per cent when compared with 2013. This is in contrast to the -9 per cent decrease in supply across Great Britain as a whole. Closer analysis shows that there was a minor fall of -1 per cent in the volume of land marketed in England, while there was a significant fall of -25 per cent in Scotland and -21 per cent in Wales.
Our Farmland Value Survey shows that during 2014 the average value of prime arable land in the South West of England rose by 4.9 per cent to £8,600 per acre. This increase was significantly less than the 14 per cent (to average £9,900 per acre) growth recorded for Great Britain as a whole. In England the rise in value was 15 per cent while Wales saw a smaller increase of 3.6 per cent. In Scotland values remained static. In the last 5 years the average value of prime arable land in Great Britain has grown by 78 per cent.
Supply of Farmland – 2014
- In the South West of England 21,350 acres of farmland were publicly marketed compared with 16,526 acres in 2013, an increase of 29 per cent
- The South West of England accounted for 23 per cent of all farmland marketed in England
- Devon recorded the steepest rise (+173 per cent) where the volume of land marketed increased to 7,564
acres from 2,773 acres during 2013. Increases were also recorded in Dorset (+44 per cent), Gloucestershire (+17 per cent) and Somerset (+91 per cent)
- In contrast to the overall trend for the region the amount of land marketed decreased in Cornwall (-27 per
cent) and in Wiltshire (-44 per cent)
- Devon accounted for 35 per cent of the farmland marketed in the region.
Farmland Values – 2014
- Our Farmland Value Survey shows the average value of prime arable land in the South West of England increased by just 4.9 per cent and is now typically £8,600 per acre
- The average value of prime arable land in the South West of England has grown by 50 per cent in the last five years
- The average value of grade 3 arable land increased by 14 per cent to £7,500 per acre
- The average value of prime dairy land increased by 8 per cent to just over £7,600 per acre
- Growth was also recorded in the livestock sector, where the average value of grade 3 livestock land increased by 6.7 per cent to just over £6,400 per acre, whilst the average value of poor livestock land increased by 7 per cent to almost £5,200 per acre
Food & Farming