What drove a 30% increase in land prices in this region?
North Leinster saw a small decline in auction land sales from last year with 6pc less lands selling in the auction room.
However the region saw a 30pc increase in the average price of an acre of ground and while the volume of sales dropped, the amount of money generated increased by a substantial 35pc.
Land is making €11,747/ac compared to an average of €8,169 last year.
In the first six months of 2017 a total of 1,084ac of ground changed hands at auction generating €12.7m compared to €9.4m in the same period last year.
One of the highest prices for land in the country was paid in this region when Eamonn O'Flaherty sold a 10ac farm of scenic but mountainy ground at Glenasmole in the foothills of the Dublin Mountains. The parcel which included an old stone house made €510,000 or €51,000/ac.
The largest farm sold in the region was the 157ac Berrillstown farm near Dunshaughlin in Co Meath. This tillage and grass farm made €2.4m or €15,300/ac under the hammer of Raymond Potterton.
A 133ac farm near Killeigh in Co Offaly was the next biggest sale where the farm netted €1.4m making €10,800/ac under the hammer of Gordon Cobbe of GVM Tullamore.
One of the surprising features of the current market is the strong per acre price being paid even for bigger holdings. Stephen Barry of Raymond Pottertons attributes this to the fact that there are strong buyers specifically for these types of farms who want to buy them in their entirety and are willing to pay to keep the smaller buyer out.