Farm Ireland
Independent.ie

Tuesday 24 October 2017

Commuter Belt

The commuter belt counties fell from the top of the table in relation to the value of agricultural land last year to lag behind Ulster by an average of €111/ac.

A total of 1,389.64ac was sold under the hammer in counties Meath, Kildare and Wicklow for an average total of €17.833m (€12,833/ac), while there were no Dublin sales recorded in the national farming press for past 12 months.

As expected, the average price per acre was well ahead of the national average of €8,880/ac (€11,567/ac) discounting the Burren, Co Clare, farm sale.

Land prices in the commuter belt counties ranged from €2,759/ac to €33,500/ac.

The lower end of the scale was the price achieved at auction for 58ac of farmland at Brusselstown, Dunard, Co Wicklow, which sold in July for €160,000.

Auction

The best commuter belt price of €3.35m was achieved by auctioneer Paddy Jordan for the November sale of Castlefarm Stud, a 100ac residential stud farm at Narraghmore, Co Kildare.

There were 31 parcels of land sold at auction in the commuter belt counties, compared to only 16 in 2008. Only two of the farms reported to have sold at auction made in excess of €1m.

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Farmers accounted for at least 14 of the buyers of land in the commuter belt counties, while two of the properties were bought in trust.

Other buyers included a sports club (1), business person (2) and a builder. No information was available in relation to the buyers for the other 13 transactions.

Fourteen of the 31 auction sales in the region were Meath farms. Nine of the farms sold were in Co Wicklow and eight in Co Kildare.

Traditionally Co Dublin has the second most valuable land in the country after Co Meath, but no sales were recorded.

Irish Independent