The annual survey of average farmland prices in the United Kingdom was released this month which triggered some five-digit headlines throughout the UK’s main growing regions.
The average cost of farmland in England and Wales rose for the eleventh consecutive year to £10,067 (US$15,456) per acre or £24,876 (US$38,187) per hectare, according to the Royal Institute of Chartered Surveyors’ (RICS) Rural Land Market Survey H2 2014.
In terms of bare UK agricultural land, average prices across the ten regions covered by RICS professionals ranged from the bargain basement of £4,375 ($6,727) per acre in Scotland up to the rarefied air of £8,438 ($12,975) in Wales and £8,875 ($13,647) in the West Midlands.
Based on Savills Rural Research forecast that the average price of UK farmland will rise 34% between now and 2018, a conservative estimate for UK farmland prices in three years would be £13,490 ($20,710) per acre for farmland and £10,720 ($16,460) for bare land.
In the graphs above, we compare UK average farmland prices with average farmland prices in three Uruguay departments: Soriano, Colonia and San Jose. Readers of our free Uruguay Agribusiness Investment Report will recognize these as three of the country’s most expensive growing regions.
Finally, as a follow-up to our most recent comparison of Uruguay and United States farmland prices, we add the USDA numbers to the graphs above to see how all three regions compare in terms of average farmland prices per acre in both GBP and USD.
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