THE value of farmland in East Staffordshire has topped £10,000 an acre.
Farmers will be rubbing their hands after learning that they can get a five-figure sum for their land following new research by agricultural specialists Smiths Gore which showed that the price was at a record high.
It was also revealed that land which could be use for housing developments is now said to be worth around £11,000 an acre.
"Investors continue to move their money into the 'safe haven' of farmland as an investment, with its obvious tax advantages, but farmers remain the dominant, if slightly more cautious, buyers, which makes lotting and marketing land attractively even more important than usual", Ed de Lisle, of Smiths Gore, told the Mail.
"Demand from both investors and farmer buyers is supporting competition for land and driving capital growth."
Despite the price boom, there has actually been less land put up for sale in the area compared to 2013, which has exacerbated the demand and competition for land across the entire West Midlands.
In the year to date, 68,200 acres have been advertised, compared with 73,500 acres in 2013.
Despite the high levels of value in farmland, there are no sites currently up for sale in Burton or in neighbouring South Derbyshire.
Harry Cotterell, president of rural campaigns CLA, welcomed the announcement. He said: "Investment is vital if the rural economy is to continue to grow and recover."