The screws continue to tighten on the land market in Louth. Average price rose last year, the fourth year in a row of significant increase. Price rose by 12% to €16,797/ac.

The increase was €1,847/ac.

There is no mystery as to why prices are increasing. There is good land, demand is high and supply is tight.

Expansion of Dundalk and – in particular – Drogheda, and proximity to the M1 and Dublin and Belfast, add to demand.

For our survey we looked at 484ac placed on the market in 18 holdings, up from 341ac on 11 holdings the year before.

Most properties were offered by private treaty.

Auction

Robt B Daly & Son auctioneers sold a fine 44.5ac farm at Beaulieu, Drogheda by auction it made €800,000 or over €17,000/ac. The buyer has business as well as farming interests, it was reported.

The top price of nearly €26,000/ac was paid in a private treaty sale of a parcel of just over 10ac, with no residence. Most other properties sold in a tight range between €15,000/ac and €18,000/ac. One property with a house in need of full refurbishment made over €20,000/ac.

The most active category of buyer was business, which includes investors and part-time farmers with off-farm income.