Ploughing on

FOLLOWING on from the Listowel races last week, all roads lead to Tullamore next week for the National Ploughing Championships, now in its new home in Creggan, Tullamore, Co Offaly. The largest outdoor farm and machinery show of its type in Europe, this event is now one of our national treasures.

Last year there were 285,000 attendees with 1,500 exhibitors. Where there are animals, there is land and, where there is land, there are property experts. A number of property-related bodies will have stands at next week’s event including the Society of Chartered Surveyors Ireland, Ordinance Survey Ireland, CSO, and nationwide property group DNG.

Most land agents clear a space in their diaries to attend because the Ploughing Championships are an invaluable networking event.

Land sales have being going through a fallow period over the last nine months. Shortage of land for sale is an ongoing issue. Other challenges in the market have been the historically low milk prices (around 20 cents a litre) and the pressure on world grain prices. According to land specialist John Dawson, who is based in Tullow, Co Carlow, and has been selling land for 50 years, the outlook for the autumn selling season is reasonably positive with lack of supply of stock continuing to be a factor.

“2015 was a strong performing year,” he says. “However, 2016 to date has been somewhat flat with reduced farm incomes a negative as a result of reduced prices for commodities internationally.” He is finding that “prices for quality arable land in Leinster are achieving €10,000-€12,000 per acre with quality grasslands securing €8,000-10,000 per acre. The strongest demand is for smaller parcels of farming land with the likely purchase in many cases to be local.”

No doubt the market will be discussed forensically over the three days.