39 transactions hit average of ?10k/ac
The survey covers 39 land sales in North Leinster, which includes the counties of Dublin, Louth, Meath, Westmeath, Longford and Offaly. In these counties, more than 2,480ac of land changed hands for an accumulated total of €24,974,850, giving an average of price of €10,070/ac.
The region boasted the biggest land sale in the country when Dowth Hall, on 420ac near Drogheda but in the Royal County of Meath, sold for €5m. Other notable sales included the sale of the 274ac St Edmundsbury Hospital farm at Lucan, Co Dublin, for €4.3m.
The highest per-acre price was paid for 19ac at Killsallaghan, Co Dublin, which was sold by Ganly Walters for €25,000/ac, while a 410ac mixed Farm at Ginnets Park, near Trim, Co Meath, and a 16ac parcel at Brannockstown, Trim, both sold for €5,000/ac. The lowest price was paid for forestry land near Edgeworthstown in Longford which sold for €2,200/ac.
Of the 39 properties sold in this region, only one property made less than €5,000/ac, five properties made between €5,000 and €7,000/ac, 11 made between €7,000 and €10,000/ac, 10 holdings made between €10,000 and €12,000/ac, four made between €15,000 and €20,000/ac and one property made over €20,000/ac.
While the average per-acre price paid was a very respectable €10,070, there was a wide disparity in prices as can be seen from the gap between the highest and the lowest prices paid.
Paul Murtagh of Murtagh Brothers, Mullingar, remarked that most of the land sold by his firm would struggle to reach that price, a fact supported by Thomas Potterton of Trim, who said an average price of between €8,000 and €10,000/ac would be more reflective.
In Co Louth, Peter Flynn of Robert Daly and Co maintained that the average price for tillage land in the Louth area was closer to €11,000/ac in 2013. The average per acre price might be somewhat skewed by strong Dublin prices averaging €16,000/ac.