We get a lot of whingeing about how the Dukes and the like still own so much land. But land has been declining in – relative at least – value for a century an a half now. Quite how much that change in value is….
Here’s a list of the Ducal estates. Albans has 4,000 acres, Somerset 2,000, Fife 1500, Richmond 21,000. OK, I’m cherry picking.
Just to use some number or other, ag land is £5,000 an acre. That’s a bit high for estates as some of it will be wood, moor, etc. But fine.
£20 million, £10 million, £7.5 million, £105 million.
The average wage of a Premier League footballer is just over £60,000 a week, which equates to more than 3 million a year.
Those lower end ducal estates are well within reach of the average premiership footballer. If that’s what they want to devote their income to of course.
Something of a change in relative values there, no?