Land prices have risen strongly in Co Cork over the past five years. Last year that trend was interrupted – the average price fell to €13,884/ac, a drop of 14%.

A number of factors are likely to have contributed. There were somewhat fewer large holdings of top-quality land. Dairy farmers also had less money on hand following a year of disappointing milk prices and high input costs.

Our survey looked at 215 farms and holdings which were offered on the market, totalling 8,693ac. They were a mix of all land types. We did our calculations on 43 farms, which had sold by year end.

Selling prices varied from a minimum of €5,000/ac to a maximum of €37,000/ac. Dairy farmers continued to be the main buyers, followed by business buyers which includes part-time farmers.

Among the notable sales, O’Donovan and Associates sold a 69ac non-residential farm at Abbeylands, Castlelyons at auction for €1.887m or €27,000/ac. The buyer had equestrian and drystock interests.

Another large sale was the 87ac at Doon, Mallow, auctioned by CCM Property. Two dairy farmers from Co Kerry competed, one winning out with a bid of €950,000. CCM also sold a c50.7ac farm at Rathcoole, Mallow at auction for €540,000, or €10,651/ac. The purchaser was a local dairy farmer. They sold a number of holdings in the range of 20ac to 30ac by private treaty for €18,000/ac to €20,000/ac.

Dick Barry & Son Auctioneers sold a 89ac non-residential holding at Ardra, Castlelyons at auction for €1.33m. The buyer was a neighbouring dairy farmer, the price was just under €15,000/ac. Micheal H Daniels and Knight Frank jointly sold 80ac at Cuskinny, Cobh, for €1.7m or €21,000/ac.

Hodnett Forde had a number of strong sales including 69.7ac with an old farmhouse at Coolcullitha, Innishannon. Sold by private treaty, in lots, it went for a total of €2.6m, including the house.

Vital statistics

Average*: €13,884/ac

% change on 2022: -14%

Acres offered: 8,693

Total number of farms: 215

Price range: €5,000/ac to €37,000/ac

Most active buyers: Dairy

Weighted average: €13,547/ac

*Number of transactions: 46