Scotland leading farm land price increases
03-12-2012
 The number of acres of farm land marketed in Scotland increased this year by 22%, compared to the first three quarters of 2011 with 36,000 acres advertised publically. This is the largest supply of farmland during the first nine months of the year since 2006. While we have seen a notable increase in supply this year, larger commercially viable farms have been scarce. In fact, of the 134 farms available this year, only 23 had more than 400 acres,ђ said Luke French of Savills.
Savills latest farm land analysis reveals that 54% of the farms marketed this year have either sold or are currently under offer. This leaves around 62 farms unsold, almost half of which are located in South West Scotland and are typically between 100 and 300 acres. There has been a notable increase in the supply of tracts of bare land on the market, according to Savills. Sellers appear to be capitalising on farmers appetite to expand their properties in sought after areas like the Lothians, Fife, Central Scotland, Perthshire and Angus, resulting in some significant prices being achieved.
Average values in Scotland performed most strongly compared to the rest of Great Britain during the last quarter, increasing by 7.3% to ң6,450 per acre for prime arable land. |
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