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Agricultural Land Prices rising at highest rate for 30 years
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The average farmland price rose by some 33.2 per
cent over the last 12 months, new research from Knight Frank has
found – the highest growth rate seen since 1977.
Continued interest from a variety of sources has pushed prices
higher over this period, the property consultancy has reported,
with demand from lifestyle buyers rising by 25 per cent in terms
of volume over this period.
Foreign investment also remains buoyant, the study added,
helping push prices up by ten per cent in the three months to
September 2007 alone.
"The market has remained strong despite the increasing cost of
debt, global financial uncertainty and outbreaks of Foot and
Mouth disease and Blue Tongue," confirmed Knight Frank head of
farms and estates Clive Hopkins.
Whilst demand (applicants) rose by almost 12 per cent on a year
on year basis to September 2007, supply only rose by three per
cent," Mr Hopkins noted.
Earlier this week Savills reported that farmland prices in
Scotland also remained strong, with the amount of land coming on
to the market also stabilising year-on-year.
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