RICS Rural Market Survey
RICS Rural Market Survey H2 2009
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- Farmland prices rebound in H2 2009, having fallen slightly during H1 2009
- Supply falls sharply in both commercial and residential farmland sectors; demand increases in the former area and stabilises in the latter
- Price expectations increase, but they are higher in the commercial farmland sector
Farmland prices rebounded during H2 2009 (by between 4% and 8% depending on the measure), having fallen in the previous half. The drivers were a continued sharp fall in supply, both commercial and residential, coupled with rising demand in the former and a more stable demand picture in the latter. The consensus amongst surveyors is that a very thin market is likely persist during 2010 and this in turn is expected to drive farmland prices even higher.
