A Co Cork auctioneering firm says it has just sold three farms in two weeks at an average of €22,550/ac.

The outcome demonstrates the strong demand there is at the moment for better-quality farmland and for houses in the region, said CCM Property Network general manager Eamonn O’Brien. Two of the farms were residential.

The 111ac made a combined total of €2,503,500

The firm sold 36.4ac and a house at Kilshanny, Mitchelstown, for a total of €757,000 or €20,800/ac. The 33ac of land made €485,000, a separate 2.4ac with a shed made €12,000 and the house on one acre made €260,000, all to different buyers.

O’Brien sold 39ac at Kilmountain, Castlemartyr, for €755,000 to one buyer, equating to €19,400/ac. Finally, he sold a farmhouse and 36ac at Rostellan, Midleton, for €991,500 or €27,540/ac.

“The 111ac made a combined total of €2,503,500 or an average €22,550/ac,” he said.

“If anything prices seem to have strengthened further from last year. One factor in the strong demand is investors who are nervous of financial markets and want a safe refuge for their money.”