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Land sales rally as buyers flock to post-lockdown auctions

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“There is always money out there for the right property in the right location.”

“There is always money out there for the right property in the right location.”

“There is always money out there for the right property in the right location.”

Land sales have rallied  after months of lockdown with strong attendances, brisk bidding and high prices being recorded online and at traditional public auctions.

Last week a 27ac residential farm at Kilcraigue, Co Meath sold for €640,000 or €23,700/ac at the first public auction conducted post-lockdown by Eamon O’Flaherty of Sherry FitzGerald Brady O’Flaherty.

“The farm attracted significant pre-auction attention with over 90 enquiries from a variety of parties, locally and beyond,” said Mr O’Flaherty.

There were 47 people in attendance at the auction, while the vendors viewed proceedings via Zoom from California. The holding sold in two lots with a 22ac residential portion selling for €480,000, while an adjoining landowner paid €160,000 for the remaining 5ac. The same auctioneer sold a 6ac parcel of ground at Kilcock in an online auction for €120,000 or €20,000/ac.

Coonan Properties also held their first public auction since the lockdown and saw a 31ac residential holding at Laragh, Maynooth sell under the hammer for €650,000, exceeding the guide by €100,000 and making almost €21,000/ac.

The residential property was bought by a Celbridge solicitor.

Philip Byrne of Coonans maintains that the market remains strong after the lockdown.

“There is always money out there for the right property in the right location.”

Also in Kildare a 65ac non-residential farm of mixed-quality ground at Suncroft made €550,000 or almost €8,500/ac at a public auction conducted at the property by Jordan Auctioneers.

Clive Kavanagh of Jordan looked after the auction.

“Despite all the Covid-19 uncertainty, interest levels were strong. We have several more land sales scheduled in the next couple of weeks and these will give a good indication as to how the land market is performing,” he said.

Indo Farming