2022-07-09-莱坊-English_Farmland_Index_Q2_2022_2页_649kb
报告摘要
Farmland Index Summary - Q2 2022
Core Content
The Knight Frank Farmland Index reports that agricultural land values in England and Wales are nearing record highs, similar to those seen at the end of 2015. In Q2 2022, the average value of bare farmland increased by 4% to £8,190/acre, with prices rising by 8% year-to-date and 16% over the past 12 months. This marks the strongest annual growth since 2014, outperforming other property markets and equity values, and matching only gold in growth.
Key Trends and Drivers
- Price Growth:
- Quarterly: 4%
- Annual: 16%
- 10-Year: 2,713% (extremely high)
- Supply and Demand Imbalance:
- Land supply remains low, with only 34,000 acres advertised in Farmers Weekly this year, an 11% decrease from 2021.
- High demand from various buyers leads to guide prices often being exceeded, with some land selling for up to £20,000/acre.
- Buyer Types:
- Tax-driven buyers: Reinvesting from development or compulsory purchase sales.
- Environmentally motivated buyers: Focused on biodiversity, rewilding, and alternative revenue streams like carbon payments.
- Market Outlook:
- The imbalance between supply and demand is expected to persist in the short to medium term.
- New environmental regulations, such as biodiversity net gain and nutrient neutrality, are likely to increase pressure on land prices.
Key Agricultural Indicators
Outputs (Latest Annual Price Change)
| Commodity | Price (£/T or £/kg) | Annual Price Change |
|---|---|---|
| Feedwheat | 271 | 42% |
| Oilseed Rape | 596 | 20% |
| Beef (P/KG DW) | 451 | 12% |
| Lamb (P/KG DW) | 660 | 4% |
| Milk (P/Litre) | 37 | 27% |
Inputs
| Input | Price | Annual Price Change |
|---|---|---|
| Red Diesel (P/Litre) | 120 | 107% |
| Oil ($/BRL) | 105 | 44% |
Sources: www.fwi.co.uk, www.dairy.ahdb.org.uk
Historical Performance
The index tracks the average price of bare commercial agricultural land in England since 1944. Below is a summary of the index over time:
| Quarter | Quarterly Price Change | Annual Price Change | Average Value £/hectare | Average Value £/acre |
|---|---|---|---|---|
| Jun-17 | -1.6% | -6% | £18,069 | £7,313 |
| Sep-17 | 0.0% | -5% | £18,064 | £7,311 |
| Dec-17 | -1.5% | -4% | £17,794 | £7,201 |
| Mar-18 | 0.4% | -3% | £17,856 | £7,226 |
| Jun-18 | -0.7% | -2% | £17,729 | £7,175 |
| Sep-18 | -1.8% | -4% | £17,408 | £7,045 |
| Dec-18 | -1.1% | -3% | £17,223 | £6,970 |
| Mar-19 | 0.1% | -3% | £17,245 | £6,979 |
| Jun-19 | 0.7% | -2% | £17,371 | £7,030 |
| Sep-19 | -0.8% | -1% | £17,235 | £6,975 |
| Dec-19 | 0.3% | 0% | £17,295 | £6,999 |
| Mar-20 | -0.6% | 0% | £17,198 | £6,960 |
| Jun-20 | 0.1% | -1% | £17,211 | £6,965 |
| Sep-20 | 0.5% | 0% | £17,297 | £7,000 |
| Dec-20 | -1.3% | -1% | £17,080 | £6,912 |
| Mar-21 | 0.2% | 0% | £17,114 | £6,926 |
| Jun-21 | 2.0% | 1% | £17,458 | £7,065 |
| Sep-21 | 3.6% | 5% | £18,088 | £7,320 |
| Dec-21 | 3.6% | 10% | £18,730 | £7,580 |
| Mar-22 | 3.9% | 14% | £19,459 | £7,875 |
| Jun-22 | 4.0% | 16% | £20,237 | £8,190 |
Contact Information
Farm & Estate Sales Enquiries
- Name: Will Matthews
- Phone: +44 20 7861 1440
- Email: will.matthews@knightfrank.com
Research Enquiries
- Name: Andrew Shirley
- Phone: +44 20 7167 2498
- Email: andrew.shirley@knightfrank.com
Disclaimer
- This report is for general information only and not to be relied upon in any way.
- All information is for personal use only and should not be used for commercial third party purposes.
- Knight Frank LLP cannot accept any responsibility or liability for any loss or damage resulting from the use of this document.
- The content is strictly copyright and reproduction is prohibited without prior written approval.
© Knight Frank LLP 2022. Terms of use apply.
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