Demand grows for rural farmland

Price of farmland is on the up. Credit: ITV News Anglia

The cost of farmland has risen by 4% so far this year.

The latest Rural Land Market Survey has found the average cost of an acre is more than £8,600 - four times higher than in 2003 when regular surveys began.

The figures are said to reflect demand outstripping supply.

Recent demand has been driven principally by industrial farmers, but demand from lifestyle farmers is starting to come back.