The average selling price for farmland in Derry rose by £2,500/acre, or 32%, last year to reach a record high of £10,543/acre. The Oakleaf County continues to rank fifth place across NI counties for land price and is in 15th position across the island of Ireland.
The average selling price for farmland in Derry rose by £2,500/acre, or 32%, last year to reach a record high of £10,543/acre. The Oakleaf County continues to rank fifth place across NI counties for land price and is in 15th position across the island of Ireland.
Our records show that 1,653 acres of land were offered up for sale in Derry during 2021. This is 135 acres higher than the year previous but is 547 acres less than 2019 levels. The area of land advertised for sale in Derry last year equates to 0.54% of the county’s total grassland and arable area.
There were 62 pieces of land publicly put on the market in Derry last year, which makes the average lot size stand at 27 acres. This differs from the year previous when 52 lots were offered up for sale at an average size of 29 acres. Just under a third of all properties on the market in Derry during 2021 included a dwelling house.
The top price recorded in our survey was over £25,000/ac for an eight-acre parcel of land located in the south of the county. In contrast, the lowest price was £4,600/acre for five acres of poor-quality land in the middle of the county.
There was a step change in the prices recorded in our survey for Derry when compared to previous years, with three lots making over £20,000/acre and even average quality land fetched strong prices.
Local auctioneers note that demand is extremely robust in Derry and prices are agreed for most lots within a relatively short period of time.
Overall, 14% of transactions in Derry last year made over £15,000/acre. Our survey found 18% of sales were in the £12,001-15,000/acre bracket and 32% were between £9,001/ac and £12,000/ac. Over a third of sales in Derry made under £9,000/acre.
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