Farm Ireland
Independent.ie

Friday 28 July 2017

Munster

Land in Munster hit a six-year low last year with an average price of just €4,406/ ac. However, the November sale of 1,540ac in Fanore, Co Clare, for €1.157m massively dragged down the overall figure.

When the statistics are adjusted to exclude this sale, the average price achieved in the province comes in at a more respectable €9,977/ac.

This is a dramatic recovery from last year's average price of €6,665/ac and is in keeping with the findings of the survey, which suggest that the market has bottomed out.

Excluded from the survey was the 14ac sale of zoned land at Ballinvriskig, Whitescross, Cork, by Fleming Auctioneers in December, which made €1.02m.

This was part of a 99ac residential holding and was excluded on the grounds that it had already been zoned for residential development and therefore was not classed as agricultural land.

The house and farm buildings on three acres were knocked down to €455,000 for a solicitor acting in trust. The remaining portion was withdrawn.

Province

A total of 2,550.2ac were sold for €11,235,500 at auction in the province during the year.


Twenty Munster auction sales were reported in the national farming press last year, just one less than the previous year.

The highlight of these was the sale of an 18.3ac holding at Clooncunning, Ardfield, Co Cork, which sold at auction for €385,000 in March.

Another significant auction result was the 72ac residential farm sale at Clodagh, Crookstown, Co Cork, for €1,190,000 (€16,528/ac) in November .

The lowest price achieved for land in the province, and indeed the whole country, was €751/ac for the 1,540ac winterage and grazing farm in Co Clare.

The farm, which is situated in the Burren near the picturesque village of Fanore, was also the biggest holding in the country to be sold at auction.

It included a bungalow and farm buildings, and was disposed of in lots. Only three of the holdings sold in Munster were under 20ac, and four were more than 100ac, including the Burren farm.

Irish Independent