Prices for paid for agricultural land in Tyrone last year rose by 23%, or £2,391/acre, to an average price of £12,601/acre.

Tyrone is now in second place across NI counties for average land price, up from fourth place in last year’s land report. When ranked across the entire Ireland, the Red Hand County is in sixth position, up from 14th place the year previous.

The price surge in Tyrone came even though the volume of land coming on the market also rose sharply.

There were 3,015 acres publicly advertised for sale, which is an increase of 29% on the year previous.

The total area of land on the market in Tyrone equates to 0.62% of the county’s total grassland and arable area. Overall, there were 92 agricultural properties offered up for sale during 2021, with the average lot equating to 33 acres.

A dwelling house or building site was included with 28% of agricultural properties that were advertised in Tyrone last year, and so 72% of farms were non-residential.

The top price recorded in our survey for the county was £26,000/acre for a substantial block of bare land in the west of the county. Two smaller lots located in the middle of the county both made in excess of £20,000/acre.

The lowest price was £7,222/acre for a 20-acre block in the same area, which highlights that land type and subsequent prices can change within a short distance. Despite the high average price, sales agreed below £8,000/acre are still common in Tyrone, indicating that not all land commands top end prices.

Our survey found 32% of land sales in the county were under £9,000/acre, and the same proportion fell within the £9,001-£12,000/acre bracket. Just 11% of sales were between £12,001-15,000/acre and a quarter went over £15,000/acre.