Land prices show steady growth

Values for farmland have risen steadily over the last three years and based on this year’s results, the average per acre value for top quality land is now in the region of €15,000 per acre, although there have been sharp spikes this year for certain land sales.

Steadily climbing from the accepted base of €10,000 per acre, the average is now closer to €12,000 for good land, while average land is making from €8,000 upwards. Forestry ground has risen from a low base to around €4,000 in some areas, and demand is good, but the key to sales is the availability or existence of planning permission. Marginal land hovers around the same value level.

And it has been a thriving agricultural market this year — with more agents saying they are busier than ever on land sales, some of it through Nama or receivers, but most of it agricultural and confined to the industry — farmers selling to farmers — they’ve had the field to themselves with the odd blip from the Middle East and USA.