Farmland values grew by 2.1% in the third quarter of 2022 and grew by 8.6% from January to September, according to the latest Sherry FitzGerald Agricultural Land Barometer.

At the end of quarter three of 2022, the weighted average price of farmland nationally, excluding Dublin, stood at approximately €10,570/ac, it said. The growth in values in 2022 is the fastest since the Land Barometer began in 2013. The southwest region recorded the highest level of growth in the year to September at 16%.

The midlands (+10%) and midwest (+12%) also recorded strong growth levels. Philip Guckian, associate director Country Farms, Homes & Estates with Sherry Fitzgerald said that the growth in the average price for land in 2022 was not surprising.

“Most sectors in farming having a good year and with the good weather providing a window of opportunity for tillage farms, it looks like the trend might continue to the end of the year. We expect this growth to continue into next year.”