Shropshire farmland hits record price levels
Thursday 18th August 2011, 11:29AM BST.
Farmland prices in Shropshire have reached an all-time high – with the costs per acre at record levels. Arable and pasture prices have also soared.
The cost of buying arable and pasture land in Shropshire has risen beyond other parts of the West Midlands.
Today David Giles, a director at Halls, in Shrewsbury, said: “Prices have reached a record high, they are very competitive and very good.
The picture in Shropshire reflects a more general picture, where there is great demand for land.
“The best land makes the best price and that tends to be arable. However, pasture land is also fetching exceptionally good money.”
Mr Giles added that local farmers were pushing up prices, rather than people from out of the area. He said: “It is a fallacy that people from the south east, for instance, are buying land. The buyers tend to be Shropshire farmers who want to expand.”
His comments follow a survey that shows that prices in the West Midlands reached an all time high during the first half of 2011.
Chartered surveyors in the region estimate that the average price per acre increased to £6,375 in the first half of the year, reaching record levels for the second consecutive period.
However, the price in Shropshire is believed to be more than £8,000 per acre.
Interest from potential buyers in the region for commercial farmland continued to surge ahead, with 74 per cent more respondents reporting increases rather than decreases in demand.
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