Scottish Rural Land Report Reveals 54% Drop in Forestry Sales
New report highlights dramatic decline in forestry transactions and low activity in large-scale land sales.
The Scottish Land Commission’s 2024 Rural Land Market Data Report released today, delivers a sharp analysis of Scotland's rural land market. Now in its third instalment, the Data Report provides critical insights into farmland, forestry, and estate transactions from 2020 to 2023 based on data from Registers of Scotland (RoS) offering valuable insights as Scotland works towards land reform objectives.
The report reveals that just 0.5% of Scotland’s land changed ownership in 2023, reflecting a slowdown in sales activity compared to previous years. The reduction in transactions and the smaller areas of land sold were primarily driven by a sharp decline in forestry land sales. Although forestry previously contributed to significant price growth, especially in the South West, this trend has stabilised. In 2023, the total area of forestry sold decreased by 54% compared to 2022.
The report also highlights a stark reduction in the overall market value of forestry sales. From a peak of £286 million in 2021, this figure plummeted to just £70 million in 2023, marking a 75% drop in market value over two years. Despite this, Eastern Scotland accounted for the highest number of sales and the largest overall market share during 2020–2023, with a total value of £291 million. Meanwhile, South West Scotland recorded the highest average land values, at £22,801 per hectare. The majority of forestry market value during this period was concentrated in Dumfriesshire, Roxburghshire, Argyll, and Perthshire.
Commenting on the report, Policy and Practice Lead at the Scottish Land Commission, James MacKessack-Leitch, said, “The Rural Land Market Data Report is crucial for building a clear understanding of Scotland’s land market. Despite challenges with the data, the report reveals clear trends, such as low market activity in large-scale transactions and a cooling of the forestry land market.
“By improving the quality and transparency of market data, we can gain the insights needed to identify opportunities to create a vibrant and transparent rural land market which is key to creating more opportunities for communities, businesses, and individuals to own and benefit from Scotland’s land.”
The Rural Land Market Data Report 2024 follows the publication of the Commission’s Insights Report earlier this year, further enhancing the understanding of Scotland’s rural land market. Both reports underline the importance of accurate and accessible market data to deliver meaningful reform and unlock the full potential of Scotland’s land for everyone.