Longford land prices on the rise

The latest statistics on agriculture land prices has just been published by Knight Frank Ireland, and for the second year in succession, land values appear to be on the up - not just in Co Longford, but across the entire midlands region as well.

The latest statistics on agriculture land prices has just been published by Knight Frank Ireland, and for the second year in succession, land values appear to be on the up - not just in Co Longford, but across the entire midlands region as well.

“The Leinster region, which includes Longford, Carlow, Dublin, Kilkenny, Wexford, Wicklow, Kildare, Laois, Louth, Meath, Offaly and Westmeath saw the most activity in 2012,” said Robert Ganly, head of Residential & Country, Knight Frank Ireland, adding that over 20,000 acres was brought to the market and over 7,500 of those subsequently sold to eager buyers.

“As many as 309 properties were put on the market out of which 145 were sold, and the average price paid per acre in 2012 in this region was €9,889.”

According to these latest statisticts, agricultural land prices increased by 5% nationally last year, and this depite the difficulties faced by the sector due to bad weather and cuts to Single Farm Payment (SFP).

“2012 was a difficult one for farmers, particularly with the bad weather, which impacted on farm incomes, Mr Ganly added. “Despite this, the survey found, that far more land came to the market and changed hands with sales successfully completed than in the previous year - a market development that is highly promising for the Irish farming economy. Findings also showed that prices have risen in many parts of Ireland for holdings of all sizes, with the exception of the west, north west and north east.”

The survey also indicated that the average price paid for an acre of land, nationwide, stood at €10,586 – an incease from €10,064 in 2011.

“This is very positive news, and the outlook is good, Mr Ganly continued. “An increase of 5% in the national price of farmland is significant and very promising for our farming economy going forward.”