A TIGHT supply with strong demand probably sums up the Galway market for farmlands so far this year with prices averaging out at around the €10,000 an acre mark.

According to Gort auctioneer, Colm Farrell, the demand for the better-quality farmland is particularly strong and especially so if neighbouring farmers are in competition for the ground.

He also pointed out that dairy farmers were also very keenly interested in farmland that became available either in their general area or bordering their farms.

“The demand is very strong here in Galway for good quality land which can be in scarce enough supply.

“Many neighbouring or nearby farmers will see this as a one-off chance to increase their holding,” Colm Farrell told the Farming Tribune.

He also said that the ‘auction’ sale method seemed to deliver the biggest demand and competition for land coming on the market. “Auctions do tend to focus the minds of buyers,” he said.

Next month, Colm Farrell will have two farms both coming up for sale at public auction in O’Sullivan’s of Gort on Friday, September 16 next – both 70-acre holdings – one of them in Peterswell and the other in Aughrim.

For more, read this week’s Connacht Tribune.

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