Land prices rise in Longford local land prices

Land prices rise in Longford local land prices

According to the latest statistics on local land prices in the Farmers Journal, a tight supply in Longford has helped to boost prices.

In 2015, the average price per acre was €7,306 and 1,270 acres of land went under the hammer.

A total of 43 farms were offered for sale across the county last year, down 33.7% on the previous year when 1,971 acres went to the open market.

The average price of land went from €7,055 per acre in 2014 to €7,306 per acre last year in a climate where traditionally, smaller parcels arrive onto the market.

2015 was no different, really, with 32 farms comprising less that 40 acres offered for sale.

Prices ranged from €3,000 per acre for a 23 acre parcel with turbary rights near Drumlish to a top of €11,100 per acre for a small attractive piece of land.

Few farms sold at auction, with the majority being offered for sale by private treaty.

Some of those that went to auction included a 31.25 acre residential holding which averaged €4,300 per acre; a 30 acre residential package with a quaint residence at Coolarty, Edgeworthstown sold for €10,300 per acre and a 52 acre residential farm at Cloghernal Granard was knocked down at €8,500 per acre, while a 40.35 acre residential package near Killashee made €9,700 per acre.

Locally a number of agents are reporting that while demand is still relatively strong, especially from young farmers, access to funding is proving to be a major obstacle for many.

Other prices include €8,800 per acre for a small parcel of land on the outskirts of a village; €8,100 per acre for a 50 acre block in the south of the county; €6,900 per acre for land near Ballymahon and €7,000 per acre for land in Newtowncashel.

Meanwhile, over in Co Leitrim the average price of land came in around €4,869 and the amount of land offered last year amounted to 842 acres.

22 farms were offered for sale and one of the biggest farms that came onto the open market comprised a total of 94 acres.

In Co Roscommon, the average price of land in 2015 was €5,801 per acre with 5,133 acres offered for sale, while in Cavan €7,217 was the average price of land and 2,514 acres were offered for sale.