The Irish Farmers Journal Agricultural Land Price Report is based on 1,331 farms/land parcels put on the market by private treaty, public auction and tender throughout the country in 2019.

These farms amount to 61,206ac offered for sale and comprise a mix of tillage land, grazing ground, hill land and commonage.

The 783 completed transactions represent a 10% decrease from the number of transactions recorded in 2018 (870).

Last year’s transactions amount to 33,292ac recorded as sold (54% of total land offered) and were used to calculate the national average of €8,971/ac. The following was recorded for each farm/land parcel offered for sale:

  • Property size (in acres).
  • Address.
  • Method of sale: private treaty, public auction or tender.
  • For a public auction sale, we recorded if the farm sold under the hammer or was withdrawn at auction.
  • Guide price.
  • Who bought the land. For this, we subdivided the enterprise of buyers into eight categories: beef, sheep, dairy, business, tillage, mixed, other and international.
  • The selling price, where possible.

    • Criteria

    A number of criteria were used when selecting farms for our database:

  • Parcels under 10ac were excluded, unless they formed part of a larger holding and the sale price was disclosed.
  • Farms that contained a section of forestry were included.
  • A number of land parcels near towns and villages with and without zoning that were being offered for sale as agricultural land were included.
  • In terms of selling price, land that sold under the hammer on the day of auction was recorded. Any farms withdrawn at auction and sold privately afterwards were also included, if the actual sale price was disclosed. Private treaty and tender sales were also recorded, if made available.
  • When documenting residential properties, every effort was made to get the true agricultural value of the holding. On every possible occasion, the value of the residence and lands were apportioned.

    • This year’s report includes 783 completed sales – 488 of these were derived from private treaty sales, 208 were public auction results, while a further 73 farms that were withdrawn at auction sold afterward in a private deal. There were 22 tender results.

    At least 10 or more completed transactions were recorded for 25 counties, with less than 10 sales in only one. In terms of most completed sales, Roscommon topped the list with 68, followed by Cork at 67, Galway at 55 and Tipperary at 51.

    The average figure for each county doesn’t differentiate between good and marginal-type land.

    When referring to Ulster, we have incorporated Cavan, Monaghan, and Donegal only.

    The NI figures used in the report are from a survey of auctioneers and estate agents.

    Only land that could be described as arable, cuttable for silage, or good-quality grazing was used to calculate county averages and an overall NI average

    Details of all agricultural land advertised for sale in newspapers and online during 2019 were recorded and selling agents were contacted for updates on sales.

    Only land that could be described as arable, cuttable for silage, or good-quality grazing was used to calculate county averages and an overall NI average. Only sales that had reached final agreement during 2019 are used in the report.

    The average price for each county is substantially influenced by the quality, location, access and size of each land parcel that is offered for sale. More importantly, it is significantly affected by the purchasing power of neighbouring and local farmers. Consequently, prices can fluctuate from year to year, depending on what is offered for sale and who is in the vicinity to buy it.

    Prices can fluctuate from year to year, depending on what is offered for sale and who is in the vicinity to buy it.

    This report gives a credible indication of average land values in each county for 2019. It allows us to draw a comparison with the 2018 market, indicating the decrease or increase over the previous 12 months.

    It also shows the average price trends from 2007 to 2019. Since 2009, the average price has hovered between €8,700/ac and just under €10,000/ac.

    Since the price collapse of 2009, the market’s attempt to reach an equilibrium has been achieved. While prices may deviate in certain counties or regions, average prices are relatively stable.