Slight drop in farmland prices of just 1.9%
In their national land price survey the agency found a decline across the country from the very high levels of 2006. The national average price for farmland was €20,367 per acre in 2007, compared to €20,782 in 2006, a drop of just 1.9%.
In the Dublin, Kildare and Wicklow regions, which were analysed separately, the average price fell to €30,543 per acre last year from €34,959 per acre in 2006. This was a more pronounced drop, of €4,416 per acre, or 12%. In the south-west the average price paid for farmland was €19,946 per acre, down from the €21,936 per acre average of 2006 — based on 29 sales in counties Cork, Tipperary, Kerry and Limerick. However, they averaged €26,000 per acre in the 20 to 49 acre category, a significant increase from the previous year’s €17,887 per acre level.
