Scrapping of milk quotas leads to rise in farmland prices

The price of farmland increased by 26% in Dublin in 2014, according to a new report.

The document is a joint survey issued by the Society of Chartered Surveyors of Ireland and Teagasc, and puts the rise in prices down to the scrapping of milk quotas.

The report has found smaller increases in the price of land elsewhere, with the rest of Leinster and Munster rising by no more than 7%.