The land market was busy in Westmeath, as is usual in the county. Average prices rose by 13% to €12,213/ac – an increase of €1,421/ac on 2022.

Our survey examined 4,192ac on 102 holdings that were put up for sale, a significant increase on the previous year. Our calculations were based on 55 properties that met our criteria and were sold by year end. This figure was also an increase on 2022.

Some three quarters of the properties for sale were under 40ac. These averaged €12,680/ac on sale. Farms over 40ac averaged €11,169/ac.

Auctions are popular in Westmeath. Thirty of the 55 successful farm sales were by auction. Our survey shows that most parcels of 10ac to 40ac sold within the range of €12,000/ac to €15,000/ac.

Exceptional holdings

Exceptional holdings in the county, with very good land or located on good roads near towns, can now fetch €16,000/ac to €18,000/ac.

The dominant category of buyer last year was business – however, dairy farmers were active in the market as well.

James L Murtagh sold the 140ac non-residential tillage and grass farm at Hodgestown, Killucan, at auction for €2.325m, or €16,607/ac.

The swame firm sold the 127ac farm at Lissaquill, Tang, at auction for €1.1m, or €8,661/ac. They also sold a 188ac farm at Killucan by private treaty.

Murtagh Bros sold a 28ac holding at Charlestown, Mullingar, by auction for €710,000, or €25,357/ac.