Have land prices turned a corner?
Published 31/08/2010 | 05:00
Land prices have stabilised, a survey of over 3,000ac of farmland sold during the first half of this year has found.
According to auctioneers Knight Frank, agricultural land parcels greater than 20ac in size averaged €10,131/ac this year.
This is €450/ac higher than the average compiled by the auctioneer last year.
However, the figures change significantly if the sale of the massive 1,200ac farm in Wexford that was sold for less than €5,000/ac is included.
This brings the national average down to €8,886/ac.
The results broke down land price averages for six regions:
- Dublin, Kildare and Wicklow: €16,139/ac
- Kilkenny, Wexford and Carlow: €13,334/ac
- Donegal, Leitrim, Sligo, Mayo, Galway and Roscommon: €7,039/ac
- Louth and Monaghan: €11,947/ac
- Meath, Westmeath, Offaly, Longford and Laois: €8,911/ac
- Cork, Tipperary, Kerry and Limerick: €8,591/ac
The figures are based on 44 sales, comprising 3,181ac, which sold for a total of €32,228,000.
Lots of less than 20ac were only included in the survey if the land was reported to have been bought by a farmer.