English Estates & Farmland Market Review | Winter 2024/25

The value of arable farmland in England averaged £11,100/acre in 2024 and the market is stable despite the triple whammy of challenging weather, deeper-than-expected cuts to subsidy payments and changes to the inheritance tax regime.

Latest analysis of our Farmland Database shows that the average price of arable land remains high at £11,100/acre – only £100/acre less than the record level of 2023 – with almost 70% achieving a price of £10,000/acre or more.

Average pasture prices also remain close to record levels at £9,000/acre. However, there can be huge variation in the prices achieved, for example, arable prices ranged from £6,500/acre to £17,000/acre.

As we predicted at this point last year, supply did rise over the past 12 months. The 97,700 acres launched to the open market across 265 farms is the most since 2011, if 2018 is excluded when the sale of one 13,000-acre business in the East of England inflated the figures.

However, our feeling is that off-market sales have eased back over the past 12 months, so overall the market remains reasonably well balanced.

Changes announced to the inheritance tax regime in the Autumn Budget have led to scrutiny of trends in the farmland market and speculation as to the impact on land values.

It is too early to know the full impact – not least because the tax changes are not due to take effect until April 2026 – but for now we have not seen any evidence of any fundamental change in supply, demand or the prices being paid.

Read the full English Estates & Farmland Market Review – Winter 2024/25 edition for more detail on:

• Market overview
• Market outlook
• Supply
• Demand
• Pricing