Land report: Waterford price holds strong

The average price in Waterford has held firm and shows little change on the previous year. In 2019, the average price rose by 0.6% to €10,506/ac. Waterford has the third-highest average price in Munster.

Just over 1,000ac encompassing 23 farms were recorded on the market in Waterford last year. This is a drop from 1,500ac across 27 farms in 2018. However, the number of transactions recorded has increased. The price range tightened up considerably.

There was an equal number of sales above and below €300,000 in value in the county. Meanwhile, there were three sales over the €1m mark. One of these was the sale of 220ac at Faha, Kilmacthomas, which sold for €2.65m under the hammer. The final buyer was a solicitor, who was acting for a number of local farmers. It is understood that two of those farmers were in dairy and one was in drystock.

In fact, dairy farmers accounted for over 62% of purchases in the county and were involved in the top four highest-value transactions in Waterford last year. However, the highest price paid of €15,000/ac was for a 10ac parcel of land that could be viewed as having site potential and was not bought by a farmer.

Waterford is one of the few counties where the average price for parcels over 40ac in size (€11,727/ac) is higher than the average price for smaller parcels (€9,998/ac).

There were just six properties over 40ac in size recorded on the market and all but one of those sold. The one that remains on the market, however, is 148ac at West Waterford Golf club.

*Based on 17 transactions

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