Post by cenydd on Aug 23, 2013 10:54:35 GMT
The price of farmland across the UK has more than trebled in less than a decade, according to new figures.
The Royal Institution of Chartered Surveyors (Rics) described the rise as "nothing short of staggering".
According to the Rics survey, farmland now costs an average of £7,440 an acre, compared with £2,400 an acre in 2004.
The record rise in prices is being put down to increasing demand from investors, as well as farmers wanting to expand.
Even though wheat prices have fallen substantially this year, the survey suggests that many farmers are keen to capitalise on the general trend of rising commodity prices.
Investors, in the form of pension funds, sovereign wealth funds and rich individuals, have also been buying farmland.
"In less than ten years we've seen the cost of an acre of farmland grow to such an extent that investors - not just farmers - are entering the market," said Sue Steer from Rics.
The Royal Institution of Chartered Surveyors (Rics) described the rise as "nothing short of staggering".
According to the Rics survey, farmland now costs an average of £7,440 an acre, compared with £2,400 an acre in 2004.
The record rise in prices is being put down to increasing demand from investors, as well as farmers wanting to expand.
Even though wheat prices have fallen substantially this year, the survey suggests that many farmers are keen to capitalise on the general trend of rising commodity prices.
Investors, in the form of pension funds, sovereign wealth funds and rich individuals, have also been buying farmland.
"In less than ten years we've seen the cost of an acre of farmland grow to such an extent that investors - not just farmers - are entering the market," said Sue Steer from Rics.
www.bbc.co.uk/news/business-23792583
That's quite incredible given the difficult issues that farming has experienced over recent years.
