Number of agricultural land transactions rises from 2017 levels – CSO

The median price of land in Ireland in 2018 was €6,444/ac based on 2,095 transactions, according to the Central Statistics Office (CSO).

The CSO has just published its Statistical Yearbook of Ireland 2020.

The land transactions in 2018 totalled a value of €210.8 million for 37,436ac of agricultural land.

This compares to a total of €161 million for 32,990ac of land the previous year (2017).

The latest data which shows the number of transactions in 2018 of 2,095 was a significant increase on the previous year (2017) which had 1,591 transactions of agricultural land.

This represents an increase of 24% year on year.

The highest volume of land sold for the 2018 year was in the west and the least volume sold was in the south east.

The yearbook does not include data for agricultural land transactions in 2019.

The median price for land in Ireland decreased by about 3% in the four years between the start of 2015 and the end of 2018.

The CSO publication presents estimates of agricultural land prices for both arable land and permanent grassland per acre at a state and regional level.

In interpretation of the figures, the CSO said allowance should be made for the fact that only a small amount of agricultural land is sold each year.

Also, certain agricultural land transfers are excluded from the data e.g. the volume of eligible land (i.e. all agricultural land sold minus excluded transactions) sold in 2015 was only 0.42% of the total agricultural land detailed in the most recent CSO Farm Structure Survey.