Leitrim’s average land price has broken €5,000/ac for the first time since 2010. The average land value in the county in 2018 was €5,222/ac, up from €4,586/ac in 2017.
But while prices are up almost 14%, it remains the cheapest land in Ireland once again.
The main contributing factor for the higher price was down to a number of stronger sales in the county.
A private sale in May for a 12.5ac farm on the Roscommon border made €100,000 or €8,000/ac.
The highlight sale of the year was for a holding near Newtowngore. At just over 82ac, the highly sought-after farm sold privately in six separate lots for €816,750 or €9,900/ac, with the highest individual lot making €12,230/ac.
The number of land sales almost doubled last year in Leitrim, with 31 sales in 2018 compared with 16 in 2017.
The number of auctions also increased – 11 last year, up from seven in 2017.
While the breakdown of who is buying land in Leitrim is interesting, it is not surprising.
Over 45% of transactions were by beef farmers. This is the third-highest proportion of beef farmers buying land in Ireland, behind Roscommon on 50% and Monaghan with 45.5% and just in front of Mayo on 44%.
Mixed farmers purchased 23% of land in Leitrim, with the majority of these beef and sheep enterprises.
However, it will be forestry which will garner the most attention.
According to our records, Leitrim had the highest number of forestry sales in Ireland last year, with almost 20% of land sold for forestry.
Only five counties in Ireland had over 10% of land sales attributed to forestry in 2018.
Mayo was second with almost 15%, followed by Clare on 11% and Roscommon and Sligo with 10% each.
Vital statistics
*Based on 31 transactions
Long read: steady prices but high uncertainty in Ireland's land market