After a very late, and slow, start the farmland market had a busy June and July. There was a flurry of farms offered with good demand and prices for the best properties. However, there was subdued demand for plainer land and farms.

The market has now wound down for the August holiday period. In a few weeks, auctioneers will resume preparing farms and land for what they hope will be a busy autumn market.

Prices this summer continued the trend that emerged last year of buoyant demand and high prices for best quality farms and land in good locations, but with plainer properties in other areas attracting less interest and proving slower to sell.

Prices for farmland across the country are on course to average in the range €11,000/ac to €13,000/ac, as in the past two years.

Continuing demand

Among the trends that appeared over the past two months, the business and investor buyer have plenty of appetite for good farms.

The fine milking parlour at Kilcoman in Co Limerick. The 190ac dairy farm was sold by GVM for €41.5m - but in lots, to different farmers and business people.

  • Continuing demand for new housing meant there has been keen interest in land near expanding towns and villages, including land not zoned. Raymond Potterton Auctioneers achieved over €84,000/ac for a parcel of c13.7ac on the edge of Kells last month.

  • There’s continuing good demand for studs and equestrian properties.

  • Dairy farmers continue to be active but don’t appear to have the fire power of 2022 and 2023. The low milk prices of last year plus high tax bills and high costs have cut bank balances.

    Nonetheless, there are plenty of customers for any dairy farm that comes on the market.

    GVM achieved €4.15m for a 190ac dairy farm in Co Limerick – the guide price had been €3m. However, it sold in lots to a number of different farmers and business people, not as a complete dairy farm.

  • In Leinster, the difficulties and costs of getting planning permission for houses in rural areas has dampened demand somewhat for blocks of bare land.

    Conversely, there continues to be keen demand for small parcels with an existing yard or house, derelict or otherwise.

  • The difficult weather of the past 12 months plus high costs has dented farmer confidence and leaves plain land holdings slower to sell.