Farm Ireland

Friday 15 December 2017


Auction prices for land sold in Connacht rose to €10,744/ac on average, a slight increase on the previous year's figure of €10,053/ac.

However, the amount of land sold at auction was well back on the previous year. There was 266ac sold at auction last year, compared to 580ac in 2008.

Only eight conclusive auction sales were recorded for the province in the national farming press last year, while there were 13 in 2008.

The 266ac sold at auction made a provincial total of €2.858m.

It should also be noted that last year's acreage was back by 50pc on the previous year.

Prices achieved from the sale of individual farms varied from €17,777/ac to €7,317/ac.

One of the successes was the sale of nine acres of agricultural land at Claretuam, Belclare, Co Galway, which sold to a neighbouring farmer for €160,000 (€17,777/ac).

Auctioneer Martin Tyrell who handled the sale said the land was of "average quality".

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The lowest price achieved was for a 41ac holding at Carrowgarve and Tullybeg, Tulsk, Co Roscommon, which sold to a Leitrim man for €300,000 or €7,300/ac.


Property partners Garrett Loftus handled the sale of the biggest holding in the province in the summer, which was the 74ac residential farm at Quignashee, Downhill Road, Rathkip, Ballina, which was sold in lots for a total of €827,000 (€11,176/ac).

Three of the eight sales were for properties under 20ac. Two properties were between 30 and 40ac and two were bigger than 40ac but less than 50.

Five of the properties were stated to have been bought by farmers. However, buyer information was not available in relation to all Connacht sales.

Irish Independent