Leitrim land prices steady

Farmland above Lough Allen.
Land prices in Leitrim have remained steady over the past two years with the average price of agricultural land at €4,517 per acre.

Land prices in Leitrim have remained steady over the past two years with the average price of agricultural land at €4,517 per acre.

For the first time in six years, the price of agricultural land in Ireland has increased, the average price per acre around the country last year was just under €10,000/acre. Land in Leitrim is still the cheapest at €4,517/acre followed by Mayo at €5,684/acre and Sligo at €6,446/acre (decrease of 3.5%.)

In Longford the average price per acre was €8,240/acre in 2012 (Up 9%) and in Roscommon an acre was €7,667 (up 12%) last year. Cavan’s land prices increased by 17% to €7,443/acre in 2012, while in Donegal land prices fell to just under €9,400 an acre last year.

Last year 440 acres were offered for sale in Leitrim – the least amount of land offered for sale in any county. Prices ranged from €3,500/acre to a top of €7,550/acre.

Dublin had the highest average at €13,724/acre followed by Kilkenny at €13,203/acre and Kildare at €13,023/acre.

The average price for agricultural land in Northern Ireland in 2012 was stg£8,843/acre (€10,850/acre) – slightly down from stg£9,207/acre in 2011. Fermanagh had the lowest average at stg£7,538/acre (€9,249/acre).

Farmers remain the main players in the agricultural land market with many looking to expand and/or consolidate their farm enterprise. A belief that land prices have bottomed out is now encouraging farmers to invest in land once again. Substantially more land came on the market in 2012, due in part to the increased confidence in farming and also an element of forced sales.