It’s the first time in seven years – since the inception of the Irish Farmers Journal Land Report – that a county has ever featured over 10,000 acres for sale. Cork tops the table in terms of most land offered with a whopping 10,316 acres brought to the market last year. This represents a massive 53.3% hike in land supply compared with 6,729 acres in 2012. Cork has significantly contributed to the national rise in land volume for 2013 to 74,862 acres – up over 11,000 acres on 2012.
Despite the jump in supply in Cork, values were not affected with the average almost identical to 2012. The average price paid in 2013 was €11,703/acre – up just €86/acre on the 2012 average of €11,617/acre. Prices ranged from €2,100/acre for a 150-acre marginal piece of ground to a top of €35,000/acre.
Farms that sold at auction included a 14-acre parcel near Innishannon, which made €280,000 or €20,000/acre; 36 acres near Whitegate made €480,000 or €13,300/acre; a 47.5-acre residential holding near Midleton fetched €475,000 or €10,000/acre; a 64-acre farm at Tullylease was knocked down at €701,000 or €10,950/acre; a 39-acre residential holding near Dunmanway sold for €500,000 or €12,800/acre; a 43-acre residential unit near Clondulane sold for €460,000 or €10,550/acre; 76 acres at Ratharoon, Bandon was knocked down at €1.155m or €15,200/acre, while 62 acres at Ballyverane, Macroom, sold for €635,000 or €10,200/acre.
Two of the bigger farms that sold included a 115-acre residential dairy farm with 83,000 gallons near Meelin, which made €1.25m or €10,900/acre and a 143-acre farm outside Killeagh, which made €1.68m or €11,700/acre.
Cork had the highest number of sales at 58. Of these, 14 farms made €15,000/acre or more, while 22 fetched €10,000/acre or less. Parcels under 40 acres averaged almost €13,500/acres, while 40 acres or more averaged €10,600/acre.
It’s the first time in seven years – since the inception of the Irish Farmers Journal Land Report – that a county has ever featured over 10,000 acres for sale. Cork tops the table in terms of most land offered with a whopping 10,316 acres brought to the market last year. This represents a massive 53.3% hike in land supply compared with 6,729 acres in 2012. Cork has significantly contributed to the national rise in land volume for 2013 to 74,862 acres – up over 11,000 acres on 2012.
Despite the jump in supply in Cork, values were not affected with the average almost identical to 2012. The average price paid in 2013 was €11,703/acre – up just €86/acre on the 2012 average of €11,617/acre. Prices ranged from €2,100/acre for a 150-acre marginal piece of ground to a top of €35,000/acre.
Farms that sold at auction included a 14-acre parcel near Innishannon, which made €280,000 or €20,000/acre; 36 acres near Whitegate made €480,000 or €13,300/acre; a 47.5-acre residential holding near Midleton fetched €475,000 or €10,000/acre; a 64-acre farm at Tullylease was knocked down at €701,000 or €10,950/acre; a 39-acre residential holding near Dunmanway sold for €500,000 or €12,800/acre; a 43-acre residential unit near Clondulane sold for €460,000 or €10,550/acre; 76 acres at Ratharoon, Bandon was knocked down at €1.155m or €15,200/acre, while 62 acres at Ballyverane, Macroom, sold for €635,000 or €10,200/acre.
Two of the bigger farms that sold included a 115-acre residential dairy farm with 83,000 gallons near Meelin, which made €1.25m or €10,900/acre and a 143-acre farm outside Killeagh, which made €1.68m or €11,700/acre.
Cork had the highest number of sales at 58. Of these, 14 farms made €15,000/acre or more, while 22 fetched €10,000/acre or less. Parcels under 40 acres averaged almost €13,500/acres, while 40 acres or more averaged €10,600/acre.
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