Land prices in Waterford returned to more usual levels in 2021, after an upward spike in 2020. The area of land for sale fell as well.

Twenty-six farms were put up for sale, up from 18 the year before. However, the total area involved was 1,078ac, well down from the 1,617 acres of 2020.

So the farms were smaller on average. Sixteen were under 40ac with only 10 over 40ac. Four of the holdings were residential. Waterford landowners did not opt for auctions – only three holdings went this route.

Twenty-three of the 26 farms were sold by year end, indicating good demand. Average price came to €12,513/ac. This was well down from the €16,367/ac seen in 2020 but it was more in line with the past five or six years. Smaller holdings made more, with farms under 40ac averaging €13,037/ac and those over 40ac averaging €11,316/ac.

The highest price paid for land in Waterford was €26,346/ac in a private treaty sale of a 26ac holding. The lowest price per acre was €5,157/ac and this was forestry with about five years of premiums left to claim.

But, in reality, there was a lot of uniformity in prices paid. Most holdings sold in the range of €10,000/ac to €14,000/ac.

Dairy and business buyers were the joint most active farmland buyers in Waterford in 2021, both taking one-third (33%) of the holdings that sold. The remaining holdings were bought by farmers in the beef, mixed-enterprise, sheep and tillage categories.

The total value of farmland sold in the county was just over €9m.