Thursday 20 June 2019

Land wanted for continued demand


County Sligo auctioneer Roger McCarrick of REA McCarrick & Sons indicates there is continued demand for farms of all sizes throughout Co. Sligo.

"Despite all indications that farming is not a profitable activity, people still want to purchase land for lifestyle choices and for additions to existing enterprises," commented Mr. McCarrick.

REA McCarrick & Sons report a very busy selling season in spring/early summer, 2018, with farms throughout Co. Sligo selling well to both foreign purchasers moving to Ireland, and to locals.

"In 2018 alone, we have sold small and medium sized holdings to purchasers from Australia, Wales, England and Germany, all who want to invest in Ireland," said Roger. "Land quality in Co. Sligo varies from one townland to the next, but there are purchasers for all types. Large blocks of poorer quality land often sells to forestry investors, while small holdings with houses in need of repair often sell to the U.K. and European markets."

The bad weather of spring 2018 put a lot of existing farmers under financial pressure, and the drought of summer 2018, especially down South will make fodder supplies in short supply going into the coming winter. Traditionally, shortage of fodder in the West would be supplemented by supplies from South Leinster and Munster, but that will not be available this coming winter. "This imminent fodder supply shortage may force some existing farmers to sell off parts of their farm," commented Mr. McCarrick. "This is a drastic action, and perhaps the fodder situation may hurry a decision that was a few years down the road."

Values in land vary depending on quality, locality access and local demand. Poor quality land can sell at €3k - €4 per acre, with better quality averaging €6k - €7k per acre with the odd exception for superior lots. Roger McCarrick recently sold 24 acres at €240,000, which represented €10k per acre, "but this was an exception for exceptional lands," he said.

Mr McCarrick will be happy to talk to any land owners who are considering their options on future discussions on their farm, and he can be contented on mobile number 087-6810848 for a confidential discussion.

Sligo Champion