A 17.acre small lakeside holding near the village of Ballinacarriga in west Cork sold for €160,000, €9,143/ac by private treaty in December. On the books of Lehanes and Associates Ltd and guided ahead of the sale at €150,000, the non-residential holding at Edencurra, is a short drive east of Dunmanway and was an executor’s sale.

Auctioneer, Daniel Lehane said: “There was a good bit of local interest and brisk bidding before it ultimately sold for €160,000 to a buyer with a dry-stock background. It’s a lovely parcel of land, all in permanent pasture and it’s mainly all good quality."

With solid interest in this property, Lehane noted a change in farmer attitudes to land and he reported more interest from farmers in purchasing land rather than renting. He added that this was largely driven by financial rather than policy forces.

“Farmers who traditionally wouldn’t have purchased land are now showing more of an interest because of the combination of higher land rents and inflation. That seems to be doing more than any policy at the moment. Dairy farmers, in particular have had a few good years and if high interest rates are eating into deposit accounts, they see more sense in trying to buy land especially at €8,000 to €10,000/acre rather than pay €350 to €400/acre to rent it. That seems to be the same across rougher ground that might be more suited to forestry too. I can see prices holding well for the year.

The Co Cork auctioneer said that it’s early days in the 2023 land rental market yet but strong interest from farmers so far.

“There’s been a lot of activity especially for good arable or grass type land that would be suitable for dairy or livestock grazing. We’ve had a good few farmers putting their names down to be contacted if there is land comes to the rental market and the going rate around here seems to be €300 to €400/acre.