Reports a further increase in farmland prices for the fourth quarter but at a slower pace of growth than in the third quarter 2004. Prices rose at an annual rate of 25%. The strength of the market reflects sustained high demand in part driven by non-farmer interest whilst the availability of land on the market fell back again. Surveyors have commented that Single Farm Payment concerns continue to deter buyers. The demand for farmland rose at a slightly more modest rate in the quarter compared to earlier in 2004. Market demand for commercial farms remains stronger but demand for mainly residential farms has slowed down notably. The share of farmland sales to non-farmers has dropped to 41% but the share accounted for by individual farmers has picked up to 45%. Surveyors expect an improving trend with farmland prices flattening out in the year ahead. Provides graphs and commentary on the national farmland market; regional farmland markets; tables of opinion based market data; and surveyor comments.