It was all systems go in Limerick last year with more farms for sale, dairy farmers on the hunt for land and prices rising. Fifty-two farms were placed on the market, up from 44 in 2021. The area for sale totalled 2,793ac, up from 2,193ac.
The extra land met very strong demand. Average price was €11,943/ac, up from €10,787/ac the year before. That was an increase of €1,157/ac, or over 10%.
One third of the farms were offered at auction and the vast majority of these sold on the day. In all 40 of the 52 farms that were put on the market were sold by year-end.
One third of the farms offered for sale were under 40ac and they averaged €12,082/ac. Farms over 40ac averaged €11,860/ac. Three of these bigger farms were over 100ac, but just one was sold by year end.
Dairy farmers bought 40% of the farms sold, the business category bought 43%, with beef and equine interests acquiring the remainder.
GVM Property successfully auctioned a number of large holdings, including 80ac at Garrydoolis, Pallasgreen for €1.215m, a farm of 87.5ac at Tullabrakey, Bruff for €1.135m and another 72.5ac at Newcastlewest for €525,000.
Average: €11,943
% change on 2021: 11
Acres offered: 2,793
Total number of farms: 52
Price range: €5,442 to €23,095
Most active buyers: business
Weighted average: €12,268
Number of transactions: 40
