‘Up horn, down corn’ for land market an asset that meets all of their cri-
P
rices increased for pasture but fell for arable land during the third quarter of
the year, according to the latww- west fi gures from Carter Jonas. Arable land averaged £7,850 per acre – a year-on-year decrease of 7.6% – in the East of England, reveals the fi rm’s Q3 2019 Farm- land Market Update. But pasture values increased 4.8% compared with the same period in 2018 to £6,500 per acre. Carter Jonas associate Jack Cook said: “Demand for assets with the potential for diversifi - cation has built consistently over the last few years, and there has been a notable trend in recent months of farm buildings being converted into alternative uses. “That said, many buyers con- tinue to sit on their hands until
teria becomes available.”
Nationally arable land aver- aged £8,564 per acre in Q3 2019 – down 1.2% on the previous quar- ter and by 4.7% over the last 12 months. Meanwhile pasture val- ues increased during the quarter by 0.8% to £6,831 per acre, but also recorded an overall year- on-year decrease of 0.2%.
As at the end of Septem- ber 2019, publicly marketed land across the UK totalled cir- ca 83,000 acres – a 40% decrease compared with the same period last year. Despite these fl uctuations,
overall
values across England and Wales are still 10% above levels achieved fi ve years ago.
Carter Jonas fore- Farmland values in the East of England (Q3 2019) [source; Carter Jonas]
casts that supply levels are only likely to reach 110,000 acres by the end of 2019, which is well be- low the previous low in 2014. But it says this could be drastically different come the next Brexit deadline at the end of January.
Many buyers continue to sit on their hands, says Jack Cook
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