The extra lockdown restrictions imposed on Monaghan in autumn may well have affected the land market there in 2020, certainly on supply of land for sale.
Just nine farms were put on the market in the year, down from 28 the year before.
The total area was 292ac, down from 940ac. Five of the nine farms put on the market were successfully sold.
Average price was down. It was €6,745/ac compared to €7,477/ac in 2019.
The highest price among the five that sold was €8,600/ac.
Data supplied by auctioneers indicate that investors kept their hands in their pockets when it came to Monaghan.
Beef farmers, many of them would be suckler farmers, and mixed enterprise farmers bought all of the land sold in the county last year. Monaghan dairy farmers would normally be active in buying land – it could be that uncertainty about Brexit made them cautious about expanding in 2020.
Six of the nine farms offered for sale in Monaghan were offered by private treaty.
Two were put up for auction – both sold. One was offered by tender and it sold too. The range in prices went from €4,278/ac to €6,911/ac. The value of all land sold was €712,500.
Seven of the nine farms sold in Monaghan were under 40ac in size. Two were over.
The two properties sold at auction both made the same price: €80,000. One was 11.51ac at Drumnaliv, near Iniskeane and it made €6,950/ac.
The other was 18.7ac at Derrykinnamor and it made €4,278/ac.
*Average: €6,911/ac Acres offered: 293 Total number of farms: 9 Price range: €4,278/ac - €8,605/ac Most active buyers: Beef Weighted average: €6,911/ac *Based on 5 transactions
The extra lockdown restrictions imposed on Monaghan in autumn may well have affected the land market there in 2020, certainly on supply of land for sale.
Just nine farms were put on the market in the year, down from 28 the year before.
The total area was 292ac, down from 940ac. Five of the nine farms put on the market were successfully sold.
Average price was down. It was €6,745/ac compared to €7,477/ac in 2019.
The highest price among the five that sold was €8,600/ac.
Data supplied by auctioneers indicate that investors kept their hands in their pockets when it came to Monaghan.
Beef farmers, many of them would be suckler farmers, and mixed enterprise farmers bought all of the land sold in the county last year. Monaghan dairy farmers would normally be active in buying land – it could be that uncertainty about Brexit made them cautious about expanding in 2020.
Six of the nine farms offered for sale in Monaghan were offered by private treaty.
Two were put up for auction – both sold. One was offered by tender and it sold too. The range in prices went from €4,278/ac to €6,911/ac. The value of all land sold was €712,500.
Seven of the nine farms sold in Monaghan were under 40ac in size. Two were over.
The two properties sold at auction both made the same price: €80,000. One was 11.51ac at Drumnaliv, near Iniskeane and it made €6,950/ac.
The other was 18.7ac at Derrykinnamor and it made €4,278/ac.
*Average: €6,911/ac Acres offered: 293 Total number of farms: 9 Price range: €4,278/ac - €8,605/ac Most active buyers: Beef Weighted average: €6,911/ac *Based on 5 transactions
This is a subscriber-only article
SHARING OPTIONS: