Arable, bare land values as we know have now broken through the £10,000 per acre barrier in the South West. This is for the best land but without any amenity, development or alternative use value. The latest RICS/ RAU Rural Land Market Survey suggests that the average price per acre in the South West is now £9,000 an acre with English and Welsh land prices at an average of £8,000 an acre. Land prices are still rising although maybe not as rapidly. Demand continues to outstrip supply not only from the farming community but also underpinned by “lifestyle” buyers.
This is perfectly illustrated by 9.5 acres we have just put on the market going to informal tender on the 31st of October. An arable block of land with a small broad leafed copse on the village edge at South Pool in the South Hams. A natural water supply is available also with options to connect to mains water and electricity. Land of this quality this far south always has an agricultural premium but will also attract alternative users not only being equestrian but also from the tourist industry with Salcombe just across the Kingsbridge Estuary. This land has a guide £9,500 per acre but land at nearly half the price can still be acquired, as illustrated by a block of 25 acres going to informal tender on the 21st of November with a guide of under £5,000 an acre. This consists of 17.36 acres of grassland, mature woodland, a quarry and a number of lakes providing natural water together with stream frontage and some fishing. This is at Polean Farm which is within walking distance of Polperro, the picturesque fishing village, another holiday hotspot. Perfect glamping country!
