Agricultural land prices rise by 14.3%

Thursday 07 March 2013 18.15
The price of agricultural land was highest in Dublin
The price of agricultural land was highest in Dublin

The price of agricultural land has increased for the first time in six years.

According to the Irish Farmers Journal Agricultural Land Price Report 2012, the average price per acre went up by 14.3% last year.

The price per acre of farmland has halved since a collapse in 2006 and the average price nationally is now close to €10,000 per acre.

The report suggests a belief that prices had reached the bottom was now encouraging farmers to expand and invest, which led to last year's increase.

Nearly a third more land came to the market last year than in 2011, in part because of forced sales and increased confidence.

The price of agricultural land in Dublin was the highest at almost €14,000 an acre, followed by Kilkenny and Kildare at over €13,000.

Leitrim had the lowest average price at €4,517 per acre, followed by Mayo and Sligo.

Prices per acre in Tipperary increased more than any other county at 40%, followed by counties Wicklow and Clare at 33%.

Prices fell in eight counties, with Louth down by 27%, followed by Kerry and Galway.

Keywords: agriculture, farms

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