Cheerful lift in land prices

FILE under “reasons to be very cheerful”.

The latest light to shine on the property market is very flattering indeed — but is it correct? According to this land price survey by Edward Townshend of Colliers International, the average price per acre in the country has increased by 9% in the first six months of this year, compared to 2010.

And while that’s great news, it has to be said that the survey is anecdotal in its model and is based on results in newspaper reports of sales for this year.