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There was 15% less land publicly advertised for sale in NI during 2019, the Irish Farmers Journal can reveal.
Our records show that 13,527 acres were put on the market during the year, down from the 16,086 acres which were advertised for sale in 2018.
However, the total number of agricultural properties for sale has increased from 456 lots in 2018 to 480 lots in 2019.
There was a certain amount of nervousness with Brexit and some people held back from putting land on the market
It means that the average size of farmland offered up for sale in NI has reduced from 35 acres in 2018 down to 28 acres.
According to Co Down auctioneer Tim Martin, there were fewer sizeable properties on the market during 2019 and most lots ranged from 20 to 40 acres.
“There was a certain amount of nervousness with Brexit and some people held back from putting land on the market,” he said.
However, reports from across NI suggest that Brexit uncertainty did not impact on the prices paid for land over the last 12 months.
“Demand was slightly stronger. We had land which would have made £7,500-8,000/acre in the past, but was pushing over £9,000/acre in 2019,” Martin said.
Limited supply
The limited supply of land offered up for sale remains a key factor in driving prices in NI.
Armagh is the county with lowest acreage for sale, with only 761 acres publicly advertised during 2019, down 36% on last year’s total.
This equates to less than 0.35% of Armagh’s total grassland and arable area and the county also had the smallest average lot size in NI of 18 acres.
Reports indicate that land prices in Armagh have held up throughout 2019 and prices over the £15,000/acre mark have been paid in hotspot areas in the county, as well as in neighbouring parts of Tyrone and Down.
Derry was the NI county with the highest proportion of its agricultural area on the market during 2019. The 2,313 acres for sale in the county was down 6.4% year on year and equated to 0.76% of its grassland and arable area. Derry also had the largest average lot size in NI of 35 acres.
Largest county
Tyrone is the largest county in NI geographically and it had 3,335 acres advertised for sale this year, down 5.6% on last year’s total.
Elsewhere, the land market in Fermanagh saw 1,825 acres offered up for sale, which represents a 27% drop on 2018 levels.
There were 2,957 acres advertised for sale in Antrim, 20% less than last year, and the 2,337 acres for sale in Down was 12% lower than the 2018 total.
Our records include only grassland and arable ground that was advertised for sale in newspapers or online. They do not include hill ground or land that was sold privately.
A separate set of records for hill ground and rough grazing shows that 3,276 acres were advertised for sale across NI during 2019, down 13% on last year’s levels.
There were 46 lots of hill ground on the market and the average lot size stood at 71 acres, down from an average of 94 acres in 2018.
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