Land prices in Louth the most expensive in Ireland
Land in Co Louth is the most expensive in the country.
That’s according to the Irish Farmers’ Journal’s Land Price Report for 2016 which was released last week.
The report found that the Wee County experienced dramatic increases in both the average value and the supply of land to the market.
The average priced paid for land in Louth last year was €12,463/acre – up 20% on the previous year when the average was €10,492/acre.
Having previously held the title of having the most expensive land in the country, Louth fell well down the pecking order in 2015 but is now firmly back on top having knocked Dublin (€12,171/acre) and Kildare (€11,929/acre) off the pedestal.
According to the report, this can be attributed to a total of 13 properties that sold for €11,000/acre or more during the course of 2016. In fact, two farms made €20,000 and more.
The report said: “Prices in Louth ranged from €5,000/acre for a small parcel of mixed quality land to a top price of €22,000/acre for a residential package in the Kilkerley region. Just four farms sold under the hammer. These included a 17-acre residential holding at Philipstown, Louth Village, which was knocked down at €340,000 or €20,000/acre; a 17-acre parcel near Ravensdale made €146,000 or €8,500/acre; a 10.3-acre parcel at the Hill of Rath, Drogheda, averaged €12,600/acre or €130,000 and an 18.79 acre residential holding locating at Drumcath, Knockbridge, sold for €246,000 or €13,000/acre.
“Other sales included €13,300/acre for a sizeable farm in the Dundalk area; a 15-acre parcel close to Drogheda averaged €11,000/acre, while a mountain farm sold for €7,500/acre. One of the interesting aspects of the market was that at least four big arms comprising 100 acres or more commanded good strong prices ranging from €11,000/acre to almost €13,500/acre.
“Supply more than trebled in Co Louth last year, driven by the arrival of a number of larger holdings to the market. A total of 33 farms incorporating 1,398 acres arrived on the market – significantly up from the 424 acres that were offered for sale in 2015.”
Pictured above: A 112,4 acre site at Killally, Dundalk, currently for sale with Sherry FitzGerald Carroll for €1.95m