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Westmeath Records 40% Increase In Land Prices

Wednesday, 16 March 2022 07:14

The jump in Laois and Offaly has been much lower in comparison.

Agricultural land prices in Westmeath have increased by over 40%.

Research by the Farmers Journal should the average price per acre in 2021 was over €11,565 up from €8,162 the previous year.

Laois had the smallest increase in the region with less than 2% of a change and the average remaining at €13,984 compared to €13,713 in 2020.

While in Offaly, there's been a 15% increase - with an acre costing €11,405 last year up from €9,894 the previous year.

Paul Mooney, Property Editor and author of the report, outlines the reasons for such a rise in the Lake County:

Nationally, land prices increased by 33% in the last two years.

Its the highest price figure recorded since the financial crash of 2008.

Paul says a number of factors are driving the increase:

President of the Irish Farmers Association, and Toomevara's Tim Cullinan, says farmers are investigating sustainable uses of their land:

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