Farmers have been warned farmland values will drop after Brexit, if subsidies are reduced and commodity prices fall.
Demand for farmland has remained ‘robust’ following the Brexit vote.
But Andrew Shirley, head of rural research, has warned values would fall if people leave the industry after Brexit.
The average value of bare agricultural land in England and Wales fell by 0.5 per cent to £7435/acre (£18,372.29/ha) in the first quarter of 2017, according to the Knight Frank Farmland Index.
Mr Shirley said it was starting to stabilise following an 8.5 per cent drop last year.
While many farmers understood subsidies were likely to fall after the UK leaves the EU, Mr Shirley said some people would probably decide to leave the industry.