Following the major fall (over 30%) in both average values and the supply of land to the market in 2015, it appears that the price of land stabilised in Co Clare last year.

The average price paid for land increased from €5,391/acre in 2015 to €5,865/acre in 2016 – up by 9% year-on-year. To add to this, there was more activity, with 33 completed transactions recorded compared with 28 sales the previous year.

Meanwhile, the supply of land to the market continued its downward trend. A total of 77 farms incorporating 3,305 acres were brought to the market, representing a 14.8% drop on the previous year when 3,882 acres were offered for sale.

The biggest holding comprised the 310-acre Newhall Estate, Ennis, Co Clare, which sold under the hammer for €1.7m. This property came with an 18th century mansion, gate lodges, parkland and a courtyard.

The next-biggest farm was a 300-acre residential holding at Coolnatullagh Carron, which only came to the market in December.

Prices in Co Clare last year ranged from €1,900/acre for a big block of winterage-type land in the west of the county to a top price of almost €13,100/acre for a 70-acre farm located at Keevagh, Quin, Co Clare.

This was a prime piece of land and was intensely contested at the auction. Described as an “exceptional price”, the property sold under the hammer for €916,000.

Other prices included a 13-acre parcel of excellent quality land at Fossabeg, Scariff, which sold for €158,000 or €12,100/acre; a 30-acre parcel in the Kildysart region made around €5,600/acre; 45 acres of good-quality grazing ground near Newmarket-on-Fergus area fetched €8,300/acre; a good-quality grazing and meadow farm in the Corraclare region made €6,800/acre; a small parcel in the Ennis area averaged €6,000/acre while a little block close to Ennistymon village made €9,400/acre. The majority of farms that sold (26) made €7,000/acre or less.