Prices paid for agricultural land in NI rose by almost £1,000/ac on average last year, the Irish Farmers Journal can reveal.

In 2024, the average NI land price hit a new record high of £14,736/ac, which is up 6.8% or £942/ac year on year.

In particular, the market jumped significantly in both Armagh and Down, where prices rose by 14.6% and 12.9% respectively.

In Armagh, the average price paid for land hit £20,174/ac and the market in Down was close behind to average £19,831/ac. The land market in Tyrone rose by 4.2% last year to reach an average price of £14,142/ac.

Prices in Antrim and Derry reduced marginally by 2.4% and 1.4% to average £13,951/ac and £11,237/ac respectively. In Fermanagh, the market eased back by 3.5% to settle at an average price of £8,867/ac.

Supply at five-year high

Across NI overall, the lift in the land market happened even though the total supply of land offered up for sale hit a five-year high during 2024.