Sunshine and Showers

Sunshine and Showers

max temp: 14°C

min temp: 6°C


East Anglia: Farmland prices continuing to rise, Strutt & Parker reports

PUBLISHED: 12:19 12 August 2014 | UPDATED: 12:19 12 August 2014

Farmland prices in East Anglia have continued to rise so far this year, says Strutt & Parker.

Farmland prices in East Anglia have continued to rise so far this year, says Strutt & Parker.


Farmland prices in East Anglia have continued to rise during the first half of 2014, increasinig by an average of around 10%, according to Strutt & Parker.

The year began with the sale of Nordelph Farm, a block of 1,618 acres of Grade 1 commercial farmland near Downham Market in Norfolk, for well above its guide price of £15.75million.

And this buoyant trend has continued throughout the region, with the sale of several blocks of bare land in west Essex, where price records were broken, and also in Cambridgeshire, Suffolk, Hertfordshire and Norfolk where farms and farmland sold quickly and well, the firm says.

Giles Allen, partner at Strutt & Parker’s office in Ipswich, said: “Our records show that, as we predicted last year, the prices paid for arable land rose by about 10% across the region with average arable land prices now closing in on £10,500/acre, but the range is large from £15,000- £8,000/ acre.

“This figure remains well above the national average of £8,927/acre, as the ‘Grain Basket’ of England continues to benefit from confidence in farming, particularly following a straightforward and heavy harvest.”

He said that Suffolk farmland prices have been amongst the most stable, rising by just 6% to £9.815/acre, although this is likely to increase as farms launched on to the market in the early summer exchange contracts, with blocks of bare land having regularly been making in excess of £11,000/ acre.

The Essex market continued to flourish, with record prices having been achieved in excess of £12,000/acre, he added.

“Farmland values tend to correlate with wheat prices (which are down) and interest rates (which may rise, albeit slightly) and therefore the market may plateau over the second half of 2014,” said Mr Allen. “However, supply remains scarce and for every farm sold, there are generally a good number of under bidders who remain keen to secure a deal.

“Farmers have succeeded in buying land in recent years, but with a slightly more austere short term outlook for farming, we believe the investor, not so reliant on farming incomes, may become even more prevalent in 2014/15.

“There are precious few farms mooted to be coming to the market, so once again rarity will play a key part in the market. Some may prefer to watch and see, but others will keep their hand in, and values will stay level at the very least.”

Search hundreds of local jobs at Jobs24


Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Restoring a village pub that was once John Peel’s favourite watering hole has been a labour of love for two families in Rattlesden, who couldn’t bear to see their local pub falling into a state of disrepair.

These days, Charlie Jardine is the chief executive of EO Charging, a company that’s leading the charge when it comes to powering electric vehicles. But according to the 27 year-old, he was “the thickest guy” in his class at Old Buckenham Hall School in Brettenham.

Ipswich is expected to have one of the fastest-growing city economies in the UK in the three months following the scheduled date for leaving the EU, according to a new report.

A United Nations (UN) official has visited Jaywick Sands in Clacton as part of a mission to find out more about poverty in the UK.

Samuel Shutlar, the director of the building firm Samuel David Construction, which went under this summer with debts of more than £1m, has been declared bankrupt.

Management Jobs

Show Job Lists

Most read

Topic pages

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Our Privacy Policy

MyDate24 MyPhotos24