Farmland prices have been far higher in 2021 than 2020, according to CCM Property Network. It has now reviewed its land sales for the year to date. Average price made this year was €16,912/ac, general manager Eamon O’Brien said.

“The range in prices was from €9,184/ac for a farm in Limerick to €28,000/ac for land in east Cork,” he said. “The average size of holdings we sold was 38.5ac and the average spend – by the buyer – was €651,000.”

All of these farms were sold by private treaty.

“These prices are far higher than last year’s prices,” O’Brien said. “Farms are also selling for well over the guide prices. For example, we were looking for €10,000/ac for 92ac of mixed land – we got €12,500/ac.

“We also saw that land is moving quickly now when it comes on the market. Once people get a few weeks to sort out finance, it sells.

“Farmers have been able to get finance. Banks like lending to farmers as they are able to repay loans quickly and the loans are usually well covered. Normally, the security offered by farmers for lending is well in excess of the amount loaned.”