 Conveyancing Services
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Conveyancing News: Land prices on the increase |
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Article Published: 28-Sep-2007
During the first half of this year, the cost of farmland has rocketed because of the increased demand for land by investors and farmers. The Royal Institution of Chartered Surveyors has that the price of land has risen by almost a quarter in the fist six months of 2007 pushing the price of a hectare of land to an average of £8,850.
Big bonuses issued to city slickers has continued drive up the cost of land together with competition from foreign farmers wishing to purchase land to take advantage of the low prices in Britain.
A spokesperson for RICS, Sue Steer, said, "Rising commodity prices and increased interest in bio fuels have resulted in a bit of a feeding frenzy for farmland as farmers compete with investors, foreign farmers and lifestyle buyers for properties. The market is being fuelled by city buyers trying to make the most of low farmland prices, and large bonuses are entrenching these 'move to the country' trends. Farmers from Denmark and Ireland are also becoming more visible as they buy up competitively priced land in the UK."
Source: Conveyancing-0800.co.uk
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