Farm Ireland
Independent.ie

Sunday 11 December 2016

Auctioneers are positive

Jim O'Brien

Published 29/02/2012 | 06:00

Auctioneers have been publishing their reflections on last year and looking forward to this year.

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Paddy Jordan, of Jordan Auctioneers, believes he sold 1,000ac of agricultural land last year, 90pc of it at public auction.

He believes the buoyancy in agriculture at present means there will be continued strong demand for farmland in the year ahead.

"The key will be to have good quality product available to meet the growing aspirations of the industry," Mr Jordan said.

However, he believes the attitude of the banks and lending agencies will be crucial.

Phillip Byrne, of Coonan's, Maynooth, struck a note of caution when he warned that the activities of banks and receivers could have a negative impact on the market.

"Predictions are that the banks/receivers and NAMA will release more land on to the market in the coming year as they see an active market which should create more transactions," he said.

"There will also be a certain amount of sales where vendors are trying to reduce their liabilities and offload parcels of land that they are struggling to maintain in the present climate."

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The market previews are generally positive and, if prices to date this year are anything to go by, the prediction of €8,000-10,000/ac average for good farmland will prove to be on the conservative side.

Jim O'Brien

Indo Farming



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