Farm Ireland
Independent.ie

Tuesday 21 November 2017

Looking for a buyer for your farm? Look no further than your neighbour

There is no sector in particular splurging on land, says Paddy Jordan of Jordan auctioneers in Newbridge, Co Kildare. Stock image
There is no sector in particular splurging on land, says Paddy Jordan of Jordan auctioneers in Newbridge, Co Kildare. Stock image

The most active customers in the farm property market continue to be neighbouring farmers or landowners. There is no sector in particular splurging on land, says Paddy Jordan of Jordan auctioneers in Newbridge, Co Kildare.

"The man or woman looking over the neighbouring ditch is your most likely customer for land.

"Even the sales of larger farms are most often dominated by neighbours - the two biggest farm we sold this year were bought by neighbours," he said.

His colleague Clive Kavanagh agrees saying that any analysis of their sales shows that adjoining or local farmers are most likely to be the last customers standing in the auction room.

Stephen Barry of Raymond Potterton auctioneers in Navan concurs saying local big farmers are buying the bigger farms and local businessmen are also now joining the fray.

He says that by far the most active customers in his area have been tillage farmers.

"I know the sector is on its knees, prices are under the floor and this year's harvest is very difficult but so far in 2017 I have sold more land to tillage farmers than I did during all of 2016," he said.

Other strong buyers in the market are the hobby farmers, these buyers, with good jobs and perhaps a property to off-load in Dublin.

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These are in the market for farms of anything from 20ac up to 100ac located within shouting distance of the capital.

Eamon O'Flaherty of Property Partners Brady and Coonans of Maynooth sells a lot of these farms in the North Kildare/Meath border areas.

"These holdings would not be viable enterprises on their own," Eamon O'Flaherty explains, "but for the person with a job and an interest in horses, pedigree cattle or sheep they're ideal and they will continue to hold their value."

There is also strong evidence that the developer/investor is returning to the market with the price of land on the outskirts of towns and villages creeping up.

In this regard, the most expensive piece of ground changing hands was a 10.44ac piece of ground on the outskirts of Gorey in Co Wexford that sold by Warren Estates to a local businessman for €620,000 or €59386/ac.

In Munster the highest per acre price was paid for 17.25ac of land on the outskirts of Ennis in Co Clare.

In an auction handled by Sherry FitzGerald McMahon the property made €390,000 or €22,608/ac.


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