€16,394 per acre in Munster

PRICES of non-residential farms under 100 acres fell to an average of €16,394 per acre in Munster in 2008 — down from €21,417 in 2007, a drop of 23%.

Prices dropped in Leinster and Connacht also, according to the Irish Association of Auctioneers and Valuers’ annual survey.

The average glosses over the underlying slow to non-existent pace of sales which emerged last year.