Only half of 2006 price sought for farm
And most of the enquiries on this non-residential sale have been from genuine callers, he says — in other words, local farmers with an interest in expanding. He’s had the odd overture from other parts of the country too, and sees the strong reaction as a positive market indictor.
The farm is good quality arable land, he points out, all in one block with significant frontage onto the N52, the Birr to Borrisokane road.
It has been let for a number of years, and owner Michael Loughnane is now retiring, and retaining the main residence. However, a modern farmyard is included with this tillage farm, which has 30 acres currently under winter barley. The property is being sold by private treaty, and the agent is looking for offers between €8,000 and €12,000 per acre, and hoping to reach a price of at least €10,000.
That’s almost 50% back on 2006 levels, he says.
He sees the positive reaction to the sale as an indicator that there could be some spring movement in land sales.
Like the rest of the country, Tipperary has seen a sharp decline in the hobby farm buyer, whose emergence was responsible in a large part for driving up prices, particularly of smaller lots.
Here at Ballingarry, the field is now open to the professional agriculturalist and it will be interesting to see if it sells, and secondly, if it sells well.
