Land prices in Leinster: €4,660-€15,350 in Leinster
For the second consecutive year, Leinster (excluding Dublin) reported the highest prices per acre on average in 2021.
That is according to data contained in the Society of Chartered Surveyors Ireland / Teagasc Agricultural Land Market Review and Outlook Report 2022, which the bodies released earlier this week.
The data looks at plots of land, good quality and poor quality, that are less than 50-acres, between 50 and 100-acres and over 100-acres.
The SCSI Land Market Survey contains figures for Louth, Meath, Wicklow, Wexford, Kildare, Carlow, Kilkenny, Laois, Offaly, Westmeath, and Longford.
Its data (which focuses on non-residential farmland without entitlements) shows that land changed hands from €4,667/acre (Co. Longford) to €15,350/acre (Co. Kildare) in this region last year.
According to the reported average, good quality land in the ‘rest of Leinster region’ is valued between €11,000 (€7,375 in 2020) and €15,350 (€13,583 in 2020) per acre in 2021.
The publication notes that there are instances where land sold for multiples of the average levels, especially within the smaller plot size category. The bodies say this is often attributed to purchasers seeking such land to build a house.
As part of the survey, some agents reported that as market demand strengthens, there is greater interest in purchasing dwellings on smaller holdings.
They noted that the impact which the Covid-19 pandemic has had on work/life decisions is also evident in regional Ireland. They reported, “growing interest” in more rurally located property with land.
Land prices in Leinster
The report adds:
“Typically, residential farms of less than 50-acres brought to the market are on average between 19% and 21% more expensive than non-residential farms of similar size.”
“For mid-sized residential farms, i.e., between 50 and 100-acres, the percentage premium can be between 17% and 18%.”
“For plot sizes over 100-acres with a residence, the average premium compared with a non-residential farm of a similar size is between 14% and 15%,” the report concludes.
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