Price of farmland still on the up

FARMLAND prices in the East Midlands and Lincolnshire have tripled in the last decade, according to research from property adviser Savills.

SAvills’ Farmland Value Survey shows that in the first half of 2011 the average value of grade three arable land in the East Midlands rose by 7.2 per cent to £5,400 per acre. This is higher than the average increase across Britain of 5.2 per cent for grade three arable land in the same period.

Ian Bailey, head of Savills Rural Research comments: “We expect growth rates to slow during the second half of this year.”