Brexit to drive down farmland prices in England and Wales

The price of farmland across England and Wales is set to fall further as concerns in relation to Brexit hit buyer demand, according to a new survey.

A report by the Royal Institution of Chartered Surveyors (RICS) and the Royal Agricultural University (RAU) showed that 49% of those polled expected prices to fall for all types of UK farms over the next 12 months.

The report found that people’s uncertainty over the impact of the Brexit vote is depressing demand as buyers question the future of the UK farming industry outside the EU.