Connacht/Ulster: Sales buoyant as 1,400ac changes hands
Farm sales in Connacht and Ulster were more than buoyant with all indicators on the ascendant apart from the average per acre price that fell somewhat.
A total of 27 successful auctions saw 1,400ac of land change hands in published auctions, marking a huge increase of 70pc on last year’s volume. Sales generating €9.193m, an increase of 47pc on the previous 12 months.
However, while the per acre price of €6,566 marked a drop of 14pc on 2017 the market that year was somewhat skewed by two unusual sales.
The most expensive piece of property sold at auction in the region in 2018 was a 10ac parcel of grazing ground at Teermore, Roscommon that made €13,200/ac under the gavel of Property Team Smith Kelly.
The largest farm to sell was a 168ac grass farm with an excellent range of farm buildings at Fourmilehouse, Roscommon. This made €1.8m or €10,714/ac at an auction conducted by John Earley. The next biggest sale was also handled by the same auctioneer and saw another Fourmilehouse farm sell under the gavel. The 150ac holding made €830,000 or €5,500/ac.
Among the higher prices paid for land in the region, an 8.5ac parcel of ground at Carrowmore sold by Headford Marts in Galway made €90,000 or over €10,000/ac.
A 50ac non-residential farm at Elphin in Roscommon came within a whisker of €10,000/ac when it made €493,000 or €9,900/ac while a 20ac non-residential property at Carrickcreeny, Cavan was sold for €191,000 or €9,550/ac.