inflation goods, up 1,616 per cent. The study indicated that £32 was normal forty years ago, while £517 was the average today.
The big surprise performer in the UK over the past 10 years has been farmland which is up by an extraordinary 187 percent to £19,000 per hectare.
This is partly because they are "not building any more of it" (or draining it!) while population growth will cause some land to be rezoned (such as for the HS2 project) and largely because certain farmland in Britain continues to attract inheritance tax relief or even total exemption.
Inheritance taxes are brutal in the UK, capturing even average families in the south-east of England in its 40 percent bracket, and the wealthy have turned to farmland as a legal means of IHT avoidance (clearly not the point if the exemption when it was introduced).
House prices are cheap - but farmland today is not. Agriculture in Britain has had a rough ride over the decades, yet farm owners are suddenly sitting on land worth previously unthinkable prices per hectare. Farmland has appreciated by 11,000 percent over the past 60 years, so it's been a grand investment over the decades.