Farmland values appear to have peaked in the third quarter despite continuing interest among investors.
English farmland values fell by almost 1% in the third quarter of 2008, according to Knight Frank, after several quarters of record double-digit price increases.
Knight Frank forecasts that land prices in the sector will fall by between 2% and 5% in the next 12 months.
Annual growth in the third quarter was still a healthy 27%, but this has fallen from a peak of almost 38% in the second quarter.
The average value of agricultural land is £5,060 an acre, up from £3,997 an acre a year ago.