§ Paul FlynnTo ask the Secretary of State for Environment, Food and Rural Affairs what changes have taken place in each of the past 10 years in the value of(a) farmland and (b) farms and farm buildings. [51281]
§ Mr. Morley[holding answer 29 April 2002]: Disaggregated data that distinguish overall farmland values from farms and farm buildings values are not available. Estimates for the valuations of land and buildings together in the UK can be derived on a consistent basis since 1993 from the aggregate agricultural balance sheet.
Estimated UK values—land and buildings1 As at December each year £ million 1993 50, 702 1994 56, 286 1995 67, 876 1996 77, 424 1997 84, 038 1998 84, 643 1999 90, 605 2000 93, 665 1 The valuations of land and buildings are at average market prices. Includes the value of owner-occupied and tenanted land. Includes that proportion of the dwelling house that is attributed to business use. One important component in determining such values are market prices and the relevant series for England are shown. The tables give the changes that have taken place in (a) the value of agricultural land transacted in England and (b) the value of land and agricultural buildings in England since 1993 as represented by the average price of land sold in these categories. The data can be supplied only on a consistent basis back to 1993, as since then the category 'agricultural land' refers strictly to "land only", whereas the prior to 1993 it could include dwelling-house 180W attachments. In addition the previous series was calculated on an October-September basis as opposed to a calendar year basis for the series from 1993.
Average price of agricultural land in England £ per hectare 1993 3,791 1994 4,229 1995 4,788 1996 6,058 1997 6,448 1998 6,139 1999 6,645 2000 7,051
Average price of land and agricultural buildings in England £ per hectare 1993 3,315 1994 3,918 1995 5,125 1996 5,596 1997 6,565 1998 6,300 1999 6,268 2000 7,104