Land prices fell significantly in Co Donegal last year. The average price was €7,953/ac, well down from the €10,635/ac of the year before. Fewer stand-out farms and estates were offered in the county. We examined 89 farms on a total of 4,080ac. These were a mix of good lowland pasture, hill grazing, standing forestry, planting land and bog. We sought selling prices for land suited for general grazing and silage, or for tillage use.
Land prices fell significantly in Co Donegal last year. The average price was €7,953/ac, well down from the €10,635/ac of the year before.
Fewer stand-out farms and estates were offered in the county. We examined 89 farms on a total of 4,080ac. These were a mix of good lowland pasture, hill grazing, standing forestry, planting land and bog. We sought selling prices for land suited for general grazing and silage, or for tillage use.
For those farms that sold before year end, the range in selling prices was €5,000/ac to €18,000/ac. A number of 10ac to 20ac holdings with modern houses sold at higher prices – we excluded them from our calculations as the house sale would distort the average value of farmland.
A top-selling property that was included was the 85ac at Cruit Lower, Kincasslagh which was sold by Savills. This farm, in a very spectacular location on the coast, came with an old farmhouse requiring modernising, two derelict cottages and two private beaches. This was a private treaty sale and although the price was not revealed, we understand it went well over the €950,000 guide price.
McCauley Properties had a busy year selling a range of holdings by private treaty, the nice ones securing between €7,000/ac and €11,000/ac. Most land sales in the county are by private treaty.
However, a number of local auctioneers now successfully use the Iamsold and related auction platforms for smaller parcels of plainer land.
Last year, such holdings sold between €3,000/ac to €14,000/ac.
For example, McBride Auctioneers sold 24ac of partially fenced grassland, with road frontage, at Termon for €120,000 via online auction.
The going rate for land in the county varies, starting at around €1,000/ac for holdings of rough hill grazing land. Plain and marginal lowland is fetching €3,000/ac to €8,000/ac. The best land in the east is fetching €12,000/ac to €16,000/ac. Holdings of 10ac to 30ac with a house can fetch €30,000/ac to €40,000/ac all in, including the residence/yard.
Average*: €7,953
% change on 2022: -25%
Acres offered: 4,080
Total number of farms: 89
Price range: €5,000/ac to €18,000/ac
Most active buyers: Business
Weighted average: €9,406/ac
*Number of transactions: 14
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