Rent Prices - RICS
Published 17 March 16
- Rent levels across England and Wales (under ATA95) for pasture haven’t seen much change between H1-2015 and H2-2015 with a £2 decrease (0.8%). Though the average price declined by £11 (4.0%) between H2-2014 and H2-2015 to £254/hectare.
- The highest rental level for pasture land (under ATA 95) in H2-2015 was seen in the North West, Wales and West Midlands with an average rental level of £297/hectare. This was a £49 (14.3%) drop when in comparison to H1-2015 for the North West, a £25 (7.7%) drop for Wales and a £37 (14.3%) increase for the West Midlands.
- The largest increase (under ATA 95) between H1-2015 and H2-2015 of £37/hectare was seen in both the Eastern region, increasing to £198/hectare and the West Midlands increasing to £297/hectare.
- Rent prices for pasture land (under ATA 95) decreased in the East Midlands, North West, Wales and Yorks and Humber, between H1-2015 and H2- 2015. The largest fall between this period was seen in the North West region, decreasing from £346/hectare to £297, a reduction of £49(14.3%). The largest fall in rental price between periods H2-2014 and H2-2015 was a drop of £74 (20.0%) which was also seen in the North West region.
- The average rental price for arable land in England and Wales (under ATA 95) experienced a £11 (2.9%) increase between periods H1-2015 and H2-2015. There was a 4.5% decrease in rental prices when periods H2-2014 and H2-2015 are compared.
- The only percentage decrease of the half year for arable land (Under ATA 95) was seen in the East Midlands region, which came down by 3.1% (£12).
- The lowest price paid for arable was seen in Wales which rose 7.7% (£25) between H1-2015 and H2-2015.
|Land rent levels for dairy farms (pasture land) in England and Wales|
|AHA 86||ATA 95|
Note= All figures are median only. Data is based on surveyor opinions of bare farmland rents. England and Wales rent figures are the weighted average of all regions.
ATA = Agricultural Tenancies Act 1995; AHA = Agricultural Holdings Act 1986.
Note: There are two types of agricultural tenancy in operation, AHA 86 and ATA 95. Those agreed before 1 September 1995 are known as 1986 Act tenancies (AHA 86) and those agreed after 1 September 1995 are known as Farm Business Tenancies (ATA 95). These two types of tenancy operate quite differently. For example, AHA 86 tenancies carry succession rights whereas Farm Business Tenancies are typically short term. Therefore, there are typically differing levels of rent between the two types of tenancy within the same region, with ATA 95 tenancies usually being more expensive. Details can be found at this link:
Note: Annual prices are averages of H1 and H2