Land prices jumped in Co Offaly last year to an average of €13,229/ac. This was an increase of 28% from the €10,317/ac of the previous year. The performance was driven by strong demand and good properties put up for sale. We examined 66 farms and holdings with a total of 2,589ac. These were a mix of all land types. We sought selling prices for land suited for general grazing and silage, or for tillage use.
Land prices jumped in Co Offaly last year to an average of €13,229/ac. This was an increase of 28% from the €10,317/ac of the previous year. The performance was driven by strong demand and good properties put up for sale.
We examined 66 farms and holdings with a total of 2,589ac. These were a mix of all land types. We sought selling prices for land suited for general grazing and silage, or for tillage use.
Prices for those that sold by year-end ranged from €5,224/ac to €37,500/ac.
The top price was paid for a 10ac parcel near Rahan which sold at auction by James L Murtagh for €375,000. The same auctioneer had a fine sale of 145.5ac at Kilooley Hall, Tullamore. It sold after auction for a price understood to be approximately €1.9m or just over €13,000/ac.
GVM Tullamore sold a number of 20ac to 40ac holdings by private treaty at prices of €16,000/ac to €18,000/ac. Its biggest sale, meanwhile, was the 91.6ac Castle Lawn at Ballinamere which made €1m or €10,917/ac.
Francis Kearney Auctioneers sold a number of parcels by private treaty between €9,000/ac and €11,000/ac. Tom McDonald & Associates got up to €15,900/ac for land parcels sold by private treaty.
Good working land in Co Offaly is now making €11,000/ac to €13,000/ac but the very choicest properties, if well located, are approaching €20,000/ac. Active buyers include part-time farmers, business owners with money to invest as well as dairy farmers.
Average*: €13,229/ac
% change on 2023: +28%
Acres offered: 2,589
Total number of farms: 66
Price range: €5,224/ac to €37,500/ac
Most active buyers: Business
Weighted average: €12,126
*Number of transactions: 20
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