Land and rent prices

These figures show GB land and rent prices from the Royal Institute of Chartered Surveyors (RICS). They are updated every six months.

Pasture

• The average price for pasture land in England and Wales stood at £16,702 / hectare in H2-2018, an increase of £647 (4.0%) from H1-2018. A percentage increase of 5.0% was recorded between periods H2-2017 and H2-2018.
• The lowest price for pasture land in H2-2018 was £13,178 / hectare, which was recorded in the Eastern region. This was a 1.6% price increase against the price of land in H1-2018 and an 18.5% increase from H2-2017.
• The highest price for pasture land in H2-2018 was £19,768 / hectare, which was recorded in the North West. This is an increase of 14.3% from H2-2017 and a 25.5% increase compared with H1-2018.
• Over the period H1-2018 to H2-2018, the Yorks Humber region was £13,591 / hectare and saw the largest price decrease of £1,236 / hectare (8.3%). There was no change between H2-2017 and H2-2018. The largest price increase was seen in the North West with a £4,015 (25.5%) rise between H1-2018 and H2-2018.
• Over the period H2-2017 to H2-2018, Wales pasture land increased £2,471 (16.7%). Compared with H1-2018 it increased £3,089 (21.7%) to £17,297.

Arable

• The average price for Arable land In England and Wales stood at £21,045 / hectare in H2-2018, a decrease of £172 (0.8%) from H1-2018. A percentage increase of 1.0% was recorded between periods H2-2017 and H2-2018.
• The lowest price for arable land in H2-2018 was £19,151 / hectare, which was recorded in the East Midlands. This was a 7.5% price decrease on the price of land in H2-2017. A price decrease of 6.6% has been recorded between H1-2018 and H2-2018 for the region.
• The highest price for arable land in H2-2018 was £22,857 / hectare, which was recorded in Wales, an increase of £4,942 (27.6%) on H1-2018 and an increase of £5,530 (31.9%) on H2-2017.
• Over the period H2-2017 to H2-2018, three of the nine regions saw price increases, the highest of which was Wales with an increase of £5,530 / hectare (31.9%) for arable land, taking it to £22,857 / hectare. Over the same period the largest decrease in price was seen in the North West region where prices fell £3,089 / hectare (13.2%).
• The average price for arable land in Wales for H2-2018 stood at £22,857 / hectare, which was an increase of £5,530 / hectare (31.9%) in comparison to H2-2017. Between H1-2018 and H2-2018 the price rose £4,942 / hectare (27.6%).

• Rent levels across England and Wales (under ATA95) for pasture rose between H1-2018 and H2-2018 increasing £28 / hectare (12.2%). The average price increased by £28 / hectare (12.4%) between H2-2017 and H2-2018 to £257 / hectare.
• The highest rental level for pasture land (under ATA 95) in H2-2018 was seen in the North West with an average rental level of £309 / hectare. This was a £30 / hectare (10.6%) increase when in comparison to H1-2018 and a £62 (25.0%) increase between H2-2017 and H2-2018.
• Rent prices for pasture land (under ATA 95) decreased in the South East, between H1-2018 and H2-2018. It was the largest and only fall in this period, decreasing from £185 / hectare to £136, a reduction of £49 (26.7%). The largest fall in rental price between periods H2-2017 and H2-2018 was a drop of £43 (24.1%) also in the South East.
• Increases in rental value for pasture land (under ATA 95) between H1-2018 and H2-2018 were seen in the Eastern (43.7%), East Midlands (17.6%), North East (25.0%), North West (10.6%), South West (11.7%), Wales (15.0%), West Midlands (18.8%) and Yorks Humber (5.3%) regions.
• ATA 95 rent levels for pasture land in Wales in H2-2018 stood at £284 / hectare, an increase of £37 / hectare (15.0%) when compared to H1-2018 and an increase of £37 / hectare (15.0%) on H2-2017.
• The average rental price for arable land in England and Wales (under ATA 95) experienced an £11 / hectare (3.2%) increase between periods H1-2018 and H2-2018 to £367 / hectare. There was a 5.7% increase in rental prices when periods H2-2017 and H2-2018 are compared.
• The lowest price paid for arable was seen in the South East at £278 / hectare for H2-2018. There was a £68 / hectare (19.6%) drop between H1-2018 and H2-2018.

All figures are median only. Data is based on surveyor opinions of bare farmland prices and rents. England and Wales rent figures are the weighted average of all regions.

Annual prices are averages of H1 and H2.

No data is available for Scotland pasture and arable land prices for H2-2018.

ATA = Agricultural Tenancies Act 1995; AHA = Agricultural Holdings Act 1986.

There are two types of agricultural tenancy in operation, AHA 86 and ATA 95. Those agreed before 1 September 1995 are known as 1986 Act tenancies (AHA 86) and those agreed after 1 September 1995 are known as Farm Business Tenancies (ATA 95). These two types of tenancy operate quite differently. For example, AHA 86 tenancies carry succession rights whereas Farm Business Tenancies are typically short term. Therefore, there are typically differing levels of rent between the two types of tenancy within the same region, with ATA 95 tenancies usually being more expensive.