Land prices drop by 17.5%
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.