Land prices averaging €9,554 – SCSI/Teagasc report
According to the data supplied to the SCSI/Teagasc Land Market survey by SCSI Auctioneers and Valuers, the national average price of agricultural land which included a residential holding was €10,326/ac (€25,515/ha).
The average national price for agricultural land without a residential holding was €9,554/ac (€23,608/ha).
Nationally, the average price per acre – both with and without a residential holding – showed a decline in values for larger parcels of land.
The report also points out that the national average price per acre fell from €10,690 in the less than 50ac class to €9,629 in the 50-100ac class, and €9,193 in the 100ac+ class.
Meanwhile, the average value per acre for agricultural land including a residential holding showed a very slight decline in value with size, presumably as the relative influence of the value of the dwelling on the value of the parcel declined.
Values per acre declined from €10,826 for parcels of less than 50ac, to €10,321 for parcels between 50 and 100ac to €9,699 for parcels over 100ac.
The spokesperson continued: “For parcels without a residential holding, which would be a better indication of the expected returns from farming activity alone, there was also a decline in value with parcel size.”
The report also highlighted that average values ranged from €10,576/ac for parcels of less than 50ac to €9,041 and €8,738 for parcels of 50ac to 100ac and over 100ac respectively.”