LandSale analysis of 1,893 land-only listings of one acre or more found that the average value per acre across Britain stands at £13,281.
Land in London commands an estimated average value of £105,213 per acre, almost eight times the national average, according to research from LandSale.
Analysis of 1,893 land-only listings of one acre or more found that the average value per acre across Britain stands at £13,281, with London significantly outperforming every other region.
The capital’s premium is being driven by a lack of available opportunities, with London plots accounting for just 0.4% of all land listings analysed by LandSale.
The South East ranked as the second most expensive region, with an average value of £29,492 per acre, followed by the North West (£24,142), South West (£20,295) and West Midlands (£16,321).
At the other end of the market, Scotland recorded the lowest average land value at £5,222 per acre, ahead of Wales (£9,272) and Yorkshire and the Humber (£10,103).
While land values are lower in these regions, plot sizes tend to be much larger. Scottish listings averaged 78 acres compared to just eight acres in London.
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Wales accounted for the largest share of available land listings at 15.9%, followed by the South West (14.6%) and Scotland (12.7%).
Adam Morris, founder of LandSale, said: “Whilst the wider property market has faced its fair share of challenges in recent years, demand for land remains remarkably resilient.
“Since launching earlier this year, we’ve welcomed more than 800,000 users to the platform and the level of engagement we’re seeing demonstrates that buyers remain highly motivated when the right opportunity becomes available.”
He added: “What this research highlights is the importance of supply and demand when it comes to land values. Opportunities associated with London are exceptionally scarce and, in most cases, are located around the outer boroughs and wider Greater London area rather than in central locations.
“However, the combination of restricted supply, strong demand and future development potential means these plots continue to command a substantial premium.
“At the same time, the market remains incredibly diverse. Whilst some buyers are prepared to pay a premium to secure land close to the capital, others are prioritising acreage, agricultural use, development potential or lifestyle opportunities elsewhere in Britain.
“What remains clear is that there is strong demand for the right land at the right price and in the right location.”