Price hike in county
Shropshire land prices have seen a tremendous increase in the past year, writes Jonathan Lovegrove-Fielden, of Balfours, in Farmers Weekly.
Shropshire land prices have seen a tremendous increase in the past year, writes Jonathan Lovegrove-Fielden, of Balfours, in Farmers Weekly.
He said: "Shropshire, like the rest of the UK, has seen a tremendous increase in prices obtained for land in the past 12 months.
"The RICS figures published in September 2007 show an average increase of 22.6 per cent over last year.
"In effect this has meant that bare farmland is selling for between £4,000 and £7,000 per acre.
"Whole farms will also sell strongly but the price obtained will reflect the type of purchaser who will be interested - lifestyle, proper farmer or investor.
"The reason for this increase in Shropshire is a shortage of supply (half the amount available ten years ago) coupled with a strong demand coming from a combination of buyers who are all interested at the same time, thereby driving up the demand."
