Galway farmers face sharp rise in land prices

Farmers in Galway are facing spiralling land costs, with prices up ten per cent on 2012 and a further five per cent expected by the end of the year, according to a new report.

The research from Ganly Walters found that in the first four months of this year, the price of agricultural land in Galway rose by ten per cent to an average of €11,224 per acre.

Managing Director Robert Ganly told the Connacht Tribune that there is strong demand for land at the moment.

“At the start of the year, I predicted nine per cent growth, and that is at ten per cent now. By the end of the year, land prices will have risen by 15 per cent.

“Good, progressive farmers are back in the market – they realise they have to get bigger to survive. We are also seeing a lot of part-time farmers who want to expand.

“There is strong demand out there at the moment, and we’re within a growth phase, so things are looking positive within the marketplace,” said Mr Ganly.

see full story in this week’s Connacht Tribune.