Big jump in average land prices in Carlow

The land market in Carlow saw a significant rise in average prices last year as it rose from €10,373/ac in 2016 to €12,178/ac in 2017. This 17.4% jump from the previous year would suggest a strong appetite for land in the sunny southeast.

The supply of land was steady in the county with a greater number of smaller farms offered to the market. Thirty farms came to the market in 2017, totalling 1,154 acres. This was similar to the year before, when 1,198 acres were offered incorporating 22 farms.

The majority of farms (70%, or 21 farms) coming to the market in Carlow were smaller holdings under 40 acres, with seven farms offered between 40 and 99 acres and two holdings over 100 acres.

The biggest holding to the market in Carlow this year was Aghade Lodge in Tullow. The 19th-century residence standing on 202 acres was guided for €3.7m and remains unsold.

Prices ranged in Carlow from €7,414/ac for a 58ac holding to €26,667/ac for an 18ac non-residential parcel. Twelve auctions took place in 2017, exactly the same as 2016. The first eight months proved more successful in the auction room than the latter part of the year with a number of difficult auctions noted in October. Seven of the 12 public auctions last year were withdrawn, with only two of these sold after.

Farms sold under the hammer at auction included 46 acres at Coolnakisha, Leighlinbridge, which made over €13,000/ac; a 22ac parcel at Kellistown made €200,000 and circa 10 acres at Coolkenno near Tullow made approximately €10,000/ac. A parcel in Powerstown made in excess of €10,500/ac at auction, while the aforementioned 18 acres of superb quality land in Bannagagole near Old Leighlin sold for €26,667/ac at auction.

While half of the farms (15) sold, just 33% of the acres offered sold.

Vital statistics

*Based on 15 transactions

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Exclusive: €313m of farmland sold in 2017