Farmland sales fall for second year running in line with expectations

SALES of Irish farmland fell significantly in 2008 for the second year running, which was in accordance with expectations.

The drop was more or less in line with the fall experienced in the overall Irish property market, according to independent global property consultants Knight Frank.

In a national agricultural land price survey, carried out annually by Knight Frank in Ireland (formerly Ganly Walters), it was found that in the past 12 months prices have fallen by 16.8% on average.