The price of prime UK arable land has almost quadrupled in the last 10 years, rising 277% over the period compared with a 41% increase in the 10 years from 1994 to 2004, figures from estate agency Savills showed.
That increase makes it the best performing asset class. In contrast, prime London properties rose 127% over the last 10 years.
Ian Bailey, head of rural research at Savills, said “the best quality land has done much better than poorer land…Big commercial farms are selling best.”
The best performing areas are the West Midlands and the north of England. Berkshire, Hampshire and Oxfordshire are also proving attractive.
The price of bare land rose an average 15% last year, reaching £8,000 an acre, data from Knight Franck showed.
