Farmland values in England outperformed residential property in central London last year as the prices of commodities grown on farms increased, according to an e-mailed report by real estate company Knight Frank LLP.
Farmland values grew by 13 percent and “prime” central London property increased about 10 percent, said Andrew Shirley, head of rural land research at London-based Knight Frank. Feed wheat grown in the U.K. gained 87 percent last year. The average price of English farmland is now 5,803 pounds ($9,218.65) an acre, Shirley said. Prices may again rise in 2011 as commodities surge, he wrote.