East-south land price divide widens
Leinster sales booming but dairy slump hits Munster values
Published 06/01/2016 | 02:30
Farmers paid an average of just over €10,000/ac for land bought at auction last year, with the slump in dairy incomes hitting sales in the southern counties.
Overall land prices were virtually unchanged in 2015 compared to the previous year despite a massive increase in the area of ground sold.
The average price paid for farmland over the past 12 months was €10,152/ac. This was up just 0.2pc on the 2014 average of €10,135/ac.
Last year's slump in dairy returns had a major impact on the market in Munster, where the average sale price for farmland fell by 25pc to €9,057/ac.
However, auctioneers say they are getting prices of up to €15,000/ac in private treaty sales for land in Cork.
The comprehensive survey by the Farming Independent of 200 published sales found that 10,791ac of ground sold under the hammer and netted €110m. In contrast, the area sold in 2014 was 7,679ac, and the revenue generated stood at €78m.
South Leinster continues to be the most expensive region in which to buy land. In the counties of Kildare, Laois, Carlow, Kilkenny, Wicklow and Wexford the average price paid last year was €12,083/ac, up 8.4pc on the 2014.