Surging butter prices and higher milk prices are responsible for an increase in land prices in quarter three of this year, according to a report by Sherry Fitzgerald.
The data was revealed in its latest Agricultural Land Price Index on Monday.
Average price of land nationally was up 0.5% in quarter three of 2017, with average prices standing at €9,550/acre nationally.
This slight increase in the quarter is reflective of recent national market trends, with average prices up 0.8% in the nine months to September.
Land prices are to €9,550/acre nationally
Regionally, land price change has been varied this year.
The border region has seen a rise of 1.8%, with the midwest rising by 1%. Mideast, southeast and west regions all registered price falls in the range of 0.7% to 0.8%, according to analysis by the property agent.
The average prices of certain land types include:
Arable land - €11,500/acre (up 0.8%).Prime grassland - €10,700 (up 0.5%).Marginal grassland - €6,500 (up 0.1%).The southwest (2%) and the midlands (0.7%) recorded the largest price inflation, with the average price of farmland in these regions standing at €10,100 and €8,250 respectively by end of quarter. However, general farmland in the west documented a 0.8% reduction for the quarter, with prices dropping to approximately €6,650 per acre.
Head of Sherry FitzGerald Country Homes, Farms and Estates Roseanne De Vere Hunt said: “A slight increase in land prices again this quarter is positive, following the reduction witnessed last year.
“The improvement is mainly driven by the increase in milk prices and some optimism in the national economy. However, farmers remain cautious about expanding, due to potential effects of Brexit and CAP reform in 2020.”
Auctioneer views
These findings are in keeping with the sentiment shared with the Irish Farmers Journal in recent weeks.
Speaking with numerous auctioneers on the topic, dairy farmers are certainly more active this year. The majority of major holdings coming to market are receiving dairy interest, particularly around the Munster area.
The hangover from Brexit also seems to be weaning, though we dare speak too soon.
Read more
In pictures: nearly €2m for Tipp top properties
Receivership sale takes in €7.23m
Surging butter prices and higher milk prices are responsible for an increase in land prices in quarter three of this year, according to a report by Sherry Fitzgerald.
The data was revealed in its latest Agricultural Land Price Index on Monday.
Average price of land nationally was up 0.5% in quarter three of 2017, with average prices standing at €9,550/acre nationally.
This slight increase in the quarter is reflective of recent national market trends, with average prices up 0.8% in the nine months to September.
Land prices are to €9,550/acre nationally
Regionally, land price change has been varied this year.
The border region has seen a rise of 1.8%, with the midwest rising by 1%. Mideast, southeast and west regions all registered price falls in the range of 0.7% to 0.8%, according to analysis by the property agent.
The average prices of certain land types include:
Arable land - €11,500/acre (up 0.8%).Prime grassland - €10,700 (up 0.5%).Marginal grassland - €6,500 (up 0.1%).The southwest (2%) and the midlands (0.7%) recorded the largest price inflation, with the average price of farmland in these regions standing at €10,100 and €8,250 respectively by end of quarter. However, general farmland in the west documented a 0.8% reduction for the quarter, with prices dropping to approximately €6,650 per acre.
Head of Sherry FitzGerald Country Homes, Farms and Estates Roseanne De Vere Hunt said: “A slight increase in land prices again this quarter is positive, following the reduction witnessed last year.
“The improvement is mainly driven by the increase in milk prices and some optimism in the national economy. However, farmers remain cautious about expanding, due to potential effects of Brexit and CAP reform in 2020.”
Auctioneer views
These findings are in keeping with the sentiment shared with the Irish Farmers Journal in recent weeks.
Speaking with numerous auctioneers on the topic, dairy farmers are certainly more active this year. The majority of major holdings coming to market are receiving dairy interest, particularly around the Munster area.
The hangover from Brexit also seems to be weaning, though we dare speak too soon.
Read more
In pictures: nearly €2m for Tipp top properties
Receivership sale takes in €7.23m
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