New data from Carter Jonas has revealed that farmland values throughout the UK have declined by more than 10% in the past year.

During the third quarter, average arable land values stood at a national average of around £8,967 per acre – equivalent to values last witnessed in 2012.

Farmland values remain at their highest in Southern and Central England, which experiences the highest demand for arable land. In the Midlands, on the other hand, land values are being placed under the greatest downward pressure. In the last quarter, for example, average prices dropped by 11.1% to £8,000 per acre. 

In the Northern regions, meanwhile, there has been an increase in supply in autumn after a comparatively quiet spring and summer. Supply is also up on the same period last year, while prices remained steady at the £9,000 per acre average for the second quarter in a row.

Across the UK the demand for good quality, well-priced land remains strong, but is especially evident in the Central, South and South West regions, where the scope for diversification is much greater.