Residential holdings exceed expectations
Published 16/01/2013 | 06:00
Cavan and Monaghan
According to published auction reports, 15 farms sold at auction in Co Cavan in 2012. These sales accounted for 409ac of land, for which a total of €3.371m was paid, giving an average price of €8,242/ac.
At the lower end of the scale, €3,600/ac was paid for 15ac at Kilnacrott in May, while in November €11,000/ac was paid for a small farm extending to 23ac at Kilcogy.
However, the middle ground was the focus of most of the action, with nine of the 15 farms selling for prices between €7,000/ac and €10,000/ac.
Of the two sales reported for Monaghan, the sale of a 60ac residential farm at Glasslough exceeded all expectations when it sold for €928,000 in total. One of the lots made a massive €17,025/ac.
In the absence of nationally published auction results for Donegal, conversations with two local auctioneers gave an indication as to the state of land prices there.
Louis Boyce of DNG Boyce Gallagher sold 17ac at Falcarragh by public auction in August and it made €150,000 or €8,823/ac.
Boyd Robinson of Robinson Auctioneers sold 10 farms by public auction last year and these made anything from €5,000/ac to €17,000/ac.
Prior to Christmas, the auctioneer sold 11ac near Letterkenny for €15,000/ac, 26ac for €5,000/ac and 11ac for €10,000/ac.