LAST year saw a significant fall in the amount of farmland marketed in northern England, according to a leading rural land agent.

Compared to 2017, there was a 13 per cent decrease in the acreage of farmland put up for sale in the region, the latest Farmland Market Spotlight from Savills reveals.

A total of 21,400 acres was marketed in the region during 2018, against 24,700 acres the year before.

“This accounted for 16 per cent of supply in England where there was an overall rise of 31 per cent.

The national increase was unusual partly due to two particularly large farmland sales, which had a substantial effect due to the overall low volume marketed across the UK.

Savills said the North was the only region to see a fall, resulting in few opportunities for buyers and those seeking to expand. As a result, demand remained strong for most land types with neighbours in particular seizing the increasingly rare chance to buy.

During 2018, the average value of prime arable land in the North of England remained stable at £9,800 per acre, compared with a decrease across Great Britain of two per cent to average £8,760 per acre.

The average value of grade three livestock land in the North also remained stable at £4,800 per acre.

Andrew Black, farm agency director at Savills in the North, said “Where there was competition, values were up to £12,000 an acre for arable land and £10,000 for grass; however, the gap between the best and poorer land widened.

“We have had a very strong start to 2019 for quality land and property with sporting or amenity potential, and, with no sign of significant acreages coming forward, this should continue.

“The end of the Basic Payment Scheme in 2027 means that many rural businesses will be evaluating their 10 year succession plans and we predict that this will bring more supply to the market after 2021 than has been the case recently.”

Mr Black added: “While poorer commercial arable and grassland may be subject to further falls in value, Savills research predicts that the average value of GB farmland will remain close to current levels, but with the value of amenity and lifestyle holdings rising over the next four years.”