Clare has recorded the biggest drop in land prices in the country.
The Irish Famers Journal has today published its annual Land Price Report for 2022, which shows that farmland prices across the country hit the highest level since the Celtic Tiger last year.
The Irish Farmers Journal’s Agricultural Land Price Report for 2022, which has just been published today, has some lead findings.
One of those is that business buyers now dominate the farmland market with 43 per cent of purchases, while the average price of land increased by almost 3 per cent to over 12-thousand euro per acre.
This is first time since the Celtic Tiger that farmland prices have risen over this threshold.
On a county by county basis, Clare recorded the biggest decrease in farmland prices last year, averaging just over 8,650 per acre, but this was just a return to more normal levels, after spiking to more than €11,000 in 2021.
Sixteen farms were placed on the market in 2022, according to the report, and ten of those offered for sale were sold by the end of the year.
Eight farms under 40 acres made an average of 8,830 euro per acre, with the eight larger averaging 8,403 euro per acre.
While, dairy farmers and suckler/beef farmers were the most active categories of buyer in 2022, followed by mixed enterprise farmers.
The IFJ says sale prices in the banner varied widely last year, with top land fetching over 15,000 euro per acre and the plainest €2,381.
There were a number of successful auctions in Clare; Doonass House, on 116 acres, was sold at public auction by GVM Property in December, making 1.65 million, the equivalent to 14,224 per acre.
The buyer is reported to have been a dairy farmer.
