Land prices tumble in west and north
Published 27/05/2015 | 02:30
The gap between land values in the west and north and the rest of the country is widening.
While prices held steady in Leinster and Munster last year, a major survey has found that averages in Connacht/Ulster fell by as much as 19pc.
The biggest winners among landowners outside Dublin last year were those that let out land in the Munster area, where conacre prices saw a double-digit lift of 12pc.
The report by the Society of Chartered Surveyors of Ireland and Teagasc highlights the impact that the expansion in dairying has had on land values in 2014.
Holdings of less than 50ac in Munster was the only land category that increased in value outside Dublin, with a 4pc increase to €9,435/ac.
Dublin land values got the biggest lift, with a 26pc increase in prices, but farms in the rest of Leinster sold at levels almost identical to 2013's average of €9,500-10,000/ac.
Connacht was the biggest loser, with farmland prices down by anywhere from 3-19pc.
Land blocks of 50-100ac were the biggest loser, with values falling from €7,750/ac to €6,260/ac.