Farmland Price Rise Slows
Posted by Knight Frank Newcastle on 24th July 2023 -
The average value of bare agricultural land in England and Wales rose during the second quarter of the year at the slowest rate since March 2021.
According to the Knight Frank Farmland Index, prices increased by just over 1% to £8,845/acre. Annual growth at 8% also slipped into single figures for the first time since the final three months of 2021.
Farmland, however, has outperformed the FTSE 100 equities index, gold, prime central London houses and mainstream house prices over three and 12-month periods. Over five years, only gold has seen stronger capital appreciation.
After a period of surging growth – our farmland index has risen by 28% since the market troughed at the end of 2020 – a passage of more moderate performance was perhaps to be expected. Spiralling interest and inflation rates have also undoubtedly been playing on the minds of prospective buyers.
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