Land prices in Monaghan continued to decline in 2019. At an average price of €7,477/ac, this is the third consecutive year of a fall. It is also the lowest price for Monaghan since our records began in 2007.
Prices in the county averaged a high of €10,543/ac in 2016.
Monaghan was in the bottom five in terms of the number of acres offered to the market last year, with just 939ac recorded.
Just over half of the properties advertised on the market in Monaghan last year sold.
There were just nine farms over 40ac in size recorded on the market in the county and only one of those was over the 100ac mark.
Demand
There was good demand for smaller-sized parcels and 65% of the properties under 40ac sold during the year. This compares to just a third of those over 40ac in size.
The average price for parcels of less than 40ac was €8,141/ac, compared to €4,819/ac for parcels over 40ac.
Dairy buyers
While beef buyers were more prominent on the Monaghan market in 2018, dairy farmers were definitely the main drivers for demand in 2019.
Dairy buyers accounted for over half of known sales, while beef buyers accounted for just one in five. For the most part, dairy buyers paid upwards of €6,500/ac for land.
Meanwhile, beef and business buyers paid less than that. However, there was a small number of exceptions to this.
Out of the 15 sales recorded in 2019, only five of them broke the €200,000 threshold. One of these was the sale of 29ac near Carrickmacross, which was withdrawn at auction but sold in one lot afterwards to a dairy farmer.
Meanwhile, some 39.6ac near Glaslough sold under the hammer for €250,000 to a beef farmer (€6,308/ac).
*Average: €7,477/ac
Acres offered: 940
Total number of farms: 28
Price range: €2,352/ac - €13,636/ac
Most active buyers: Dairy
Weighted average: €6,684/ac
* Based on 15 transactions
Read more
Land report: Strong demand for larger parcels
Land report: Larger parcels command stronger prices in Roscommon
Land prices in Monaghan continued to decline in 2019. At an average price of €7,477/ac, this is the third consecutive year of a fall. It is also the lowest price for Monaghan since our records began in 2007.
Prices in the county averaged a high of €10,543/ac in 2016.
Monaghan was in the bottom five in terms of the number of acres offered to the market last year, with just 939ac recorded.
Just over half of the properties advertised on the market in Monaghan last year sold.
There were just nine farms over 40ac in size recorded on the market in the county and only one of those was over the 100ac mark.
Demand
There was good demand for smaller-sized parcels and 65% of the properties under 40ac sold during the year. This compares to just a third of those over 40ac in size.
The average price for parcels of less than 40ac was €8,141/ac, compared to €4,819/ac for parcels over 40ac.
Dairy buyers
While beef buyers were more prominent on the Monaghan market in 2018, dairy farmers were definitely the main drivers for demand in 2019.
Dairy buyers accounted for over half of known sales, while beef buyers accounted for just one in five. For the most part, dairy buyers paid upwards of €6,500/ac for land.
Meanwhile, beef and business buyers paid less than that. However, there was a small number of exceptions to this.
Out of the 15 sales recorded in 2019, only five of them broke the €200,000 threshold. One of these was the sale of 29ac near Carrickmacross, which was withdrawn at auction but sold in one lot afterwards to a dairy farmer.
Meanwhile, some 39.6ac near Glaslough sold under the hammer for €250,000 to a beef farmer (€6,308/ac).
*Average: €7,477/ac
Acres offered: 940
Total number of farms: 28
Price range: €2,352/ac - €13,636/ac
Most active buyers: Dairy
Weighted average: €6,684/ac
* Based on 15 transactions
Read more
Land report: Strong demand for larger parcels
Land report: Larger parcels command stronger prices in Roscommon
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