Land sales rise by 2.5% for third quarter of 2003

Preliminary figures for July-September 2003 indicate that the average price paid per hectare (ha) of agricultural land was €14,442 (€5,844 per acre), according to the latest study by the Central Statistics Office (CSO).

This is 2.3% above the third quarter of 2003, and 2.5% above the second quarter of 2003.

These averages were calculated by the CSO from returns processe by the Valuation Office, and, according to the office, are subject to revision, particularly for the most recent quarter.

The average land transaction size was 9ha in the third quarter of 2003, a decrease of 4.3% over the second quarter of 2003.

In interpreting the figures, the CSO says that allowance should be made for the fact that only a small amount of land is sold on the open market each year.