Abstract
This paper looks at the market value of farmland in the UK, and the problems of measuring it. The recent movement in farmland values is examined along with the variables which determine these values. Changing patterns of farmland ownership are surveyed in the context of the total balance sheet of British agriculture. Balance sheet values are related to each other and to the income returns on them, and farmland is discussed in terms of opportunity costs, or alternative economic uses to which it may be put.
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