Strong Growth in Irish Agricultural Land Values
Strong Growth in Irish Agricultural Land Values
August 10th, 2021
Agricultural land values grew robustly in the opening half of 2021. According to the latest data from Sherry FitzGerald Research, land values increased by 2.1% in the second quarter of the year, with prices cumulatively increasing by 3.2% in the first six months of 2021. This is the strongest rate of growth recorded over a six-month period since the Sherry FitzGerald Agricultural Land Barometer began in late 2013.
Following this growth, the weighted average price of farmland in Ireland, excluding Dublin, stood at approximately €9,650 per acre. This equated to an increase of over €300 since the beginning of the year.
Price growth has been notable across much of the country, with the Border region recording the largest increase, 7.7% in the year to date. Similarly, the Midlands, Mid-West and Mid-East also noted high levels of growth, 4.9%, 3.8% and 3.7% respectively.
In terms of the different farm types, grassland values noted the greatest increase. Prime grassland values grew by 3.2%, with marginal grassland values increasing 3.7%. As such, by the end of June, the weighted average price of prime grassland nationally stood at approximately €10,850 per acre, with marginal grassland at €6,550 per acre.
Prime arable values also noted robust levels of growth, only marginally behind grassland values. In total prime arable values increased by 1.6% in quarter two, and by 3% in total over the first six months of the year. On the back of this rise in value, the weighted average price of prime arable land nationally reached in excess of €11,600 per acre by the midpoint of the year.
Commenting on the overall market, Philip Guckian, Associate Director, Sherry FitzGerald Country Homes, Farms and Estates, said “So far this year the agricultural land market has seen strong price growth. Encouragingly, agents across the country have noted a positive sentiment in the market, particularly after several tough years. Low supply levels continue to be an issue, but with the current good prices being achieved we are hopeful more land and farm owners will be enticed to bring more supply to the market”.
For information/advice regarding lands in North County Dublin/ Meath, please contact:
John Cumisky
Director
Sherry Fitzgerald Cumisky Kelly
Ph: 01 6913000
For any further information regarding other areas , please contact:
Eoin Lynch
Economist, Researcher
Sherry FitzGerald Group
Ph: 01 237 6474
Philip Guckian
Associate Director
Sherry FitzGerald Country Homes, Farms and Estates
Ph: 01 237 6308
