Wexford had a busy year for land auctions in 2019 and the trend is continuing so far this year. Two auctions of land last week achieved in excess of €11,000/ac.

The Ballagh

The first was a 23.7ac parcel of land that was sold at auction on Wednesday 26 February for more than the guide price. The lands at Ballyknocken, The Ballagh, Co Wexford were guided at €10,000/ac and sold for €12,658/ac. The property is located along the R741 Wexford to Gorey road, 2km from The Ballagh Village.

Some 30 people attended the auction. Bidding opened at €200,000 and quickly reached €275,000 with the help of three bidders. The property was then placed on the market. Upon reaching €300,000 there were no further bids and the hammer fell.

Auctioneer David Quinn said that the purchaser is a local farmer who was seeking to expand his operations.

A tree-lined driveway leads from the public road to a two-storey derelict farmhouse (500m) with yard in Dunmain

Dunmain

The second property was a 63ac farm at Dunmain, near Campile in Wexford that was sold at auction on 28 February. Guided at over €630,000, it was offered in two lots and included a derelict farmhouse and outbuildings. It sold at auction for €700,000. The holding has extensive frontage onto a local road and is laid out in three divisions, all of which are in tillage.

Some 40 to 50 people were in attendance at the auction. Bidding on the first lot, some 17ac including the farmhouse, opened at €150,000. Two bidders brought it to €210,000.

Meanwhile lot two, some 46ac, opened at €300,000 and two bidders brought it to €340,000.

Lot three, the entire, opened at €600,000. On the first round it was bid to €640,000 before consultation with the vendor. A new bidder came into the fray and the three bidders then brought it to €695,000. After further consultations with the vendor it was declared on the market and there was one further bid before the hammer fell at €700,000 (€11,111/ac). The buyer is understood to be a New Ross-based businessman.

Dunmain, New Ross, Co Wexford

Comment

“Both prices would be strong but fair. The Ballagh made a little bit more per acre but it was a smaller portion of land so it would have better affordability,” said auctioneer David Quinn. “The market is remaining strong in Wexford. We had two to three serious cash customers at both auctions so demand is there. It has been a bright start to the year with the first few auctions. The Wexford land market was above average last year and is maintaining that trend so far this year.” CL