Cost of farmland rising in most areas

A new survey shows the price paid for farmland across Ireland is rising in many parts with the exception of the Midlands and Southwest regions.

A new survey by Ganly Walters shows an increase in farm land values in the Northwest and West regions during 2013 along with a jump in prices in the Southeast and Leinster.

However, the prices in the large Southwest and Midlands regions kept average prices stable. Overall the national average price paid for agricultural land in 2013 was €10,500 per acre compared with €10,586 per acre in 2012.

"Overall, the market is very stable," Managing Director of Ganly Walters, Robert Ganly said.

"Leinster and the Southeast have both recorded substantial increase in land prices - Leinster up 14.2% , and in the Southeast, we are looking at well over 15%."

The number of purchases also increased by 13%, with most of the farmland purchased by farmers.

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