According to figures released by RICS, the price of Scottish farmland remained steady throughout the second half of 2013. The average price of land averaged £3,750 per acre. Furthermore, more than 80 per cent of surveyors anticipated a rise in prices during the course of this year.
Sarah Speirs, the Director of RICS Scotland, said that farmland price growth in Scotland has remained constant during the past five years.
Since commodity prices have remained strong for some time, a number of farmers have been looking to expand their businesses. Few properties are coming to the market for sale, and competition for good land is being described as “fierce.”
A net balance of 80 per cent of chartered surveyors predicted a rise in farmland prices over the next 12 months.
However, Speirs cautioned that the full impact of the New Year floods on the market remains to be seen and could result in a fall in prices.
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