Louth experienced dramatic increases in both the average values and the supply of land to the market. The average price paid for land in Louth last year was €12,463/acre – up 20% on the previous year when the average was €10,429/acre. Having fallen well down the pecking order in 2015, the wee county is right back in the top spot.

At €12,463/acre, Louth is now the most expensive county in which to buy land, knocking Dublin (€12,171/acre) and Kildare (11,929/acre) off their pedestal. 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 of these farms made €20,000 and more.

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 Kilkerly 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 located at Drumcah, 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 farms 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.