Less people buying farms for 'love of the land', says auctioneer
Business men and developers were key figures in auction rooms during the Celtic Tiger years, eager to bolster the small holdings they may have come from, or 'go back to their roots'.
But such buyers are few and far between these days in Leinster according to Clive Jordan, Director of Jordan Town and Country Estate Agents.
In fact, there's limited interest from business people in farmland these days, he says.
"Traditionally, many builders and developers had come from farming enterprises, albeit in some cases small holdings, but once their own business gathered momentum and they had spare funds part of their desire was to buy a farm, go back to their roots as such.
"When the market collapsed in the mid 2000s many of these got into well publicised difficulty and their companies were taken over, wound up and merged into other entities.
"We believe this is largely a result of the change in the general type of business person now financially strong enough to purchase such an asset.
"The new generation of CEO have been brought up on a different ethos; focus is on asset return and commercial viability. The purchase of farmland never stacks on this basis and the ‘love of the land’ does not carry the weight of old."
In its most recent price survey, Jordan Auctioneers says land in Leinster, which is where the bulk of its sales are, still has many variations from county to county.