SMITHS Gore expect less agricultural land will be marketed this year than last, adding to the pressure on prices.

Their mid-quarter update for quarter three (Q3), from July 1 to August 15. shows 26 per cent less land - 12,300 acres - was marketed compared to the same time last year and below the 15,400 acre five year average.

Dr Jason Beedell, head of research, said there had been a 50 per cent fall in equipped land for sale - 7,800 acres compared with 15,200 acres in 2013. Bare land was marginally higher at 4,600 acres compared to 4,200 acres.

In the year to date 80,500 acres has been advertised, compared with 92,800 acres in 2013.

Dr Beedell said: "We now expect less land to be marketed compared with last year although it would not take that many large properties to close the gap. For example we recently launched The Bishop Auckland Estate in County Durham, 2,170 acres of mixed farmland, woodland and a golf course. The agricultural land is let under AHA and FBT tenancy agreements."

In the first half of Q3 2014 five North East farms were marketed covering 1,500 acres (five farms and 900 acres in Q3 last year); Yorkshire and Humber had five farms and 1,000 acres (13 farms and 2,300 acres in Q3 2013); and the North West had eight farms and 1,000 acres (12 farms and 2,900 acres in Q3 2013).