Prices took a surprise tumble in Kilkenny last year, with a 10% drop from 2016 figures. Land values for 2017 stood at €9,648/ac, back from €10,740 the previous year. The number of completed transactions were also back in the county, from 34 in 2016 to 28 last year.
Supply of land to the market has risen by a third, with 2,640 acres well up on the 1,974 acres offered in 2016.
Fifty-one farms were offered to the market in 2017, exactly the same as the previous year.
These figures highlight more extensive properties arriving on the market in 2017 compared with 2016 (43% of properties in 2017 were over 40 acres).
Some prices seen included €355,000 or €13,150/ac for 27 acres near Tinnahinch in March; 72 acres in Rahora and Ballycurran near the Wexford border sold for €820,000 or €11,400/ac under the hammer in April, while, in August, a 148ac holding in three locations near Cuffesgrange well exceeded its guide of €8,000/ac to make €1,840,000 or €12,432/ac.
The largest and most expensive property on to the market this year was Castletown Cox. The 513ac estate with an exceptional Palladian mansion and pristine formal gardens was guided for a massive €17.5m or over €34,000/ac. It is believed that negotiations on the estate were ongoing before Christmas, though at the time of publishing this property remains unsold.
While prices reduced, anecdotal evidence would suggest that the land market wasn’t in dire straits by any means.
Dairy farmers have been strong in the region and auctioneers have noted a better milk price contributing to more activity on their part. However, competition from tillage and drystock farmers has slackened and this may be a reason for the reduced prices in the county.
Vital statistics
*Average: €9,648/acreLand offered: 2,640 acresPrice range/acre: €4,000 to €13,542No of farms offered: 51Biggest farm offered: 513 acresWeighted average: €9,806/acre*Based on 28 transactions
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Highest land prices and a bumper year Kildare
Prices took a surprise tumble in Kilkenny last year, with a 10% drop from 2016 figures. Land values for 2017 stood at €9,648/ac, back from €10,740 the previous year. The number of completed transactions were also back in the county, from 34 in 2016 to 28 last year.
Supply of land to the market has risen by a third, with 2,640 acres well up on the 1,974 acres offered in 2016.
Fifty-one farms were offered to the market in 2017, exactly the same as the previous year.
These figures highlight more extensive properties arriving on the market in 2017 compared with 2016 (43% of properties in 2017 were over 40 acres).
Some prices seen included €355,000 or €13,150/ac for 27 acres near Tinnahinch in March; 72 acres in Rahora and Ballycurran near the Wexford border sold for €820,000 or €11,400/ac under the hammer in April, while, in August, a 148ac holding in three locations near Cuffesgrange well exceeded its guide of €8,000/ac to make €1,840,000 or €12,432/ac.
The largest and most expensive property on to the market this year was Castletown Cox. The 513ac estate with an exceptional Palladian mansion and pristine formal gardens was guided for a massive €17.5m or over €34,000/ac. It is believed that negotiations on the estate were ongoing before Christmas, though at the time of publishing this property remains unsold.
While prices reduced, anecdotal evidence would suggest that the land market wasn’t in dire straits by any means.
Dairy farmers have been strong in the region and auctioneers have noted a better milk price contributing to more activity on their part. However, competition from tillage and drystock farmers has slackened and this may be a reason for the reduced prices in the county.
Vital statistics
*Average: €9,648/acreLand offered: 2,640 acresPrice range/acre: €4,000 to €13,542No of farms offered: 51Biggest farm offered: 513 acresWeighted average: €9,806/acre*Based on 28 transactions
Read more
Exclusive: €313m of farmland sold in 2017
Big jump in average land prices in Carlow
Stability returns to Dublin land market
Highest land prices and a bumper year Kildare
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