The cost of farmland in South West England rose last year as demand continued to outstrip supply, a new report has found. The region saw a marginal increase of 18,100 acres (3%) of land available for sale but competition bolstered prices, according to real estate firm Savills.
Over the year, there was an increase of 8.6% in the cost of prime arable land in the South West - to £9,950 per acre - with good-sized and quality blocks often achieving considerably more.
Nationally, there were 127,900 acres of farmland publicly marketed in 2022 - the most since 2018 and an increase of 5% on the previous year. Relative to historic activity levels, supply for the farmland market in Britain remains low and continues to have a "significant influence" on the market’s performance, Savills said.
