Price paid for smaller land parcels jumps

The price paid for land, across all regions in 2013 for transactions including entitlements, and involving less than 50 acres (21 ha) with or without a residential holding, increased last year, according to the latest figures from Teagasc and the Society of Chartered Surveyors Ireland.

The largest increase was seen in the Munster region, where the average selling price increased by 24% in 2013 relative to 2012 for land with no residential holding and by 14.3% for land with a residential holding.

The latest figures show that the average price for land with a residential holding per acre up to 50 acres with entitlements in Dublin is €13,000. In Leinster, it is €11,132. In Munster, it is €11,378 and in Connaught/Ulster it is €7,375.

The largest increase was seen in the Munster region, where the average selling price increased by 24% in 2013 relative to 2012 for land with no residential holding and by 14.3% for land with a residential holding.  While the price in Connaught/Ulster remained below that of other regions, there was a substantial improvement in the price of land for sale without a residential dwelling in this region. This may reflect expectations of an increase in the value of entitlements per hectare in this region as a result of the CAP reform.

“There is strong demand for agricultural land due to farmers expanding. This is primarily happening in the dairy sector due to the change in quotas,” according to Trevor McCarthy, Chair of the Rural Professional Group of the SCSI. The full survey can be found here.

 

Comments

Please be considerate of others when commenting. All comments posted are subject to our commenting policy. Comments violating this policy will be removed without notice.