Clare had the lowest average price for farmland in Munster last year.
A new report compiled by the Society of Chartered Surveyors of Ireland and Teagasc shows this county recorded the lowest average values in the province across several categories.
Data contained in the Annual Agricultural Land Market Review and Outlook 2024 reveals the price of farmland nationwide increased by 11% in 2023.
While auctioneers and valuer members predict the average price will continue to rise this year, it’s forecasted to do so at a lower rate of 6%.
The average price paid per acre for farmland of less than 50 acres in Clare last year was €9,500 for good quality land and €5,375 for poor quality holdings.
For land between 50 and 100 acres here, the average was €10,500 and €5,875 for good and poor land, respectively.
Clare recorded the lowest average values in Munster across all categories except poor quality land between 50 and 100 acres, for which the price paid in Limerick was lower.
The Banner county also had the 5th lowest average price nationwide.
The most expensive average price for farmland last year was in Waterford where good quality land went for an average of €20,000, followed by Tipperary at €17,599.
