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Sale shows prices holding

The first farm auction of the year, the sale of 85 acres of tillage land at Jerusalem, Co Carlow was held at the Seven Oaks Hotel, Carlow recently.

The property was withdrawn at €890,000 (€10,470/ac) and sold subsequently for what is believed to be a higher price -- a transaction which could be an early indication that land prices are holding into the New Year.

A sister property, part of the same farm, was sold in October 2010 for a price in the region of €10,000/ac. Located at Jerusalem, four miles from Kilkea, three miles from Carlow and eight from Athy, the 85-acre holding is in one big division and watered by a stream that runs across the back of the property. It includes a large 3,000sq ft haybarn and boasts more than 0.5 miles of road frontage.

According to Carlow auctioneer, Charlie McDermott of Sherry Fitzgerald McDermott, 24 people attended the auction.

"We offered the property in three lots; in a 14-acre piece, a 71-acre piece and as an entire," explained Charlie.

"While three bidders declared an interest in the 14 acres and two in the 71 acres, the strongest bidding centred on the entire.

"Matters went very briskly on the entire and the property was withdrawn at €890,000."

The farm was sold to a local buyer last week for a price in excess of the highest bid.

Jim O'Brien

Indo Farming