Louth had least amount of land offered for sale in the country last year
At 424 acres, Louth had the least amount of land offered for sale in the country last year.
That’s according to the latest Agricultural Land Price Report 2015, published in today’s Irish Farmers’ Journal.
The report shows a complete reversal of fortunes in the county from 2014. Just 12 farms, extending to 424 acres, were offered for sale in 2015 – down a massive 62% on the year before when 1,118 acres arrived on the market.
With just 10 of those sales reaching conclusion, The Irish Farmers’ Journal reported Louth one of the more difficult counties to evaluate, saying: “The sharp shortage in supply made it quite a challenge to gather sales information and get an accurate picture of price trends in Co Louth last year.”
The report found that land values experienced a significant drop last year with the average falling to €10,429/acre – down 26.7% on 2014 when the average was €14,221/acre.
Land in Co Louth was always amongst the most expensive in the country – ranked fifth overall in the 2014 report – but is no longer up there.
Of the sales that were made 67% were sold by private treat, with 33% by public auction. Of those offered for sale 83% of farms were non-residential, with just 17% residential.
The report said: “Prices in Louth ranged from €7,900/acre for two separate parcels of land in the Ardee and Louth Village regions, respectively, to a top price of €14,600/acre for a 45.8-acre non-residential farm located at Tatebane, Hackballscross. The only other farm to sell at auction was a 68.3-acre non-residential farm with sea views at Dunany which was knocked down at €800,000 or €11,790/acre.
“Other prices included €9,900/acre for a 24-acre residential parcel of grazing ground; €12,500/acre for a small parcel near Dundalk; €10,000/acre for 40-acres of really good land and €8,300/acre for a small parcel of average land.
“Agents report that, while there is good demand for land, the appetite is more cautious when compared to other years. Despite having only 12 farms offered for sale, 10 actually reached a successful conclusion.”