Farm Ireland
Independent.ie

Tuesday 20 February 2018

Land values up 25pc in six months

Jim O'Brien

Jim O'Brien

A land survey by Colliers has revealed that land values have increased by 25pc since the start of year, with the national average now standing at €10,200/ac.

A province-by-province comparison with land prices in 2011 saw Leinster record the smallest rise at 8.5pc, whereas an increase of 24pc was recorded in Ulster.

Prices in Munster revealed a gain of 33pc, but Connacht led the pack with an increase of 34pc per acre.

The average price per acre in each of the four provinces for the first six months of 2012 was €12,000/ac in Munster; €10,500/ac in Leinster; €10,200/ac in Ulster and €8,200/ac in Connacht.

Ed Townshend of Colliers attributed the rapid gain in values to a significant increase in commodity prices in all sectors, including cereals, beef and milk, during the past 12 months.

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He said the reduction of stamp duty on agricultural land from 6pc to 2pc in the last Budget was also a contributory factor.

Mr Townshend said the highest price recorded so far this year was in Co Cork, where a 30ac tillage farm netted €23,600/ac.

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The property was reputed to have been bought by a dairy farmer.

This report was compiled from a total of 79 land sales, comprising a total of approximately 3,770ac, published in national farming newspapers during the first six months of this year.

The sales amounted to a total of €38.5m in transactions.

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