THE value of farmland continues to decline, according to a recent survey by Strutt & Parker.
Nationally, the average price for arable land was just over £2,400/acre in October, a 5pc drop from June.
In this part of the country, prices did not escape the decline, though demand from non-agricultural buyers has helped to shore up the market.
Christopher Orme, with the Harrogate office of Strutt & Parker, says the value of bare arable land has declined in this district over the past two years from £3,000/acre to £2,500, following the drop in farm incomes.
Farms with houses have been sought after and the rise in value of the houses has, in many cases, offset the decline in value of bare land.
Mr Orme said that farms in areas such as Helmsley have seen price rises, though the less attractive - to non-farming eyes - flat land has not benefited from the non-agriculture buyer.
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