Land prices drop by 17.5%

Bray People - - News -

A NA­TIONAL agri­cul­tural land price sur­vey has found that in the past 12 months farm­land prices in Wick­low, Kil­dare and Dublin have fallen by 17.5 per cent, a higher drop than the na­tional av­er­age of 16.8 per cent.

The sur­vey was car­ried out by Knight Frank Ire­land, spe­cial­ists in agri­cul­tural land sales and con­sul­tancy. The Wick­low, Dublin and Kil­dare re­gion was an­a­lysed sep­a­rately be­cause of the sig­nif­i­cantly higher prices paid for farm­land. This re­gion ex­pe­ri­enced the big­gest fall in the coun­try dur­ing 2008. Knight Frank Ire­land spe­cialises in agri­cul­tural land sales and con­sul­tancy

In the re­gion in­clud­ing Wick­low, the av­er­age price dropped to €25,210 per acre last year from €30,543 per acre in 2007. This was an over­all drop of €5,333 per acre, giv­ing a fall of 17.5 per cent. The rest of the coun­try feel slightly less, by an av­er­age of 16.1 per cent, with prices av­er­ag­ing €17,081 per acre.

Over­all in the re­gion there were 11 land sales in this cat­e­gory for the year, the same as 2007. How­ever, the to­tal acreage sold last year was 704 acres, up sig­nif­i­cantly from the 427 acres sold in 2007.

There were six land sales in the 20 to 49 acre cat­e­gory, with the av­er­age price of €24,310 per acre, down from €30,540 per acre. The price in the 50 to 99 acres cat­e­gory av­er­aged €34,672 per acre. For a 100 to 199 acre farm prices av­er­aged out at €18,885 per acre. There were no sales recorded by Knight Frank in the 200 plus acre cat­e­gory.

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