North West farmland prices are 'highest in England and Wales'

The Westmorland Gazette: LAND OF PLENTY: Farmland prices up by nearly 15 per cent LAND OF PLENTY: Farmland prices up by nearly 15 per cent

FARMLAND prices hit yet another record high - most notably in the North West - during the final six months of 2013.

The price jumped around 15 per cent in the space of a year, according to the latest RICS/RAU Rural Land Market Survey.

During the second half of last year, the average cost of farmland rose to £7,754 per acre across England and Wales, hitting a record high for the ninth consecutive period.

The cost of land is now 14.3 percent higher than during the same period in 2012 when an acre cost, on average, just under £6,800.

Despite remaining unchanged on the first half of the year, prices in the North West were the highest in Great Britain with the cost of an acre coming in at £8,813.

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