Land supply remained relatively steady in Co Offaly in 2013 but, similar to Limerick, values dropped by 10%. The average price fell from €8,528/acre in 2012 to €7,677/acre last year while the amount of land offered for sale dropped by 3.2% to 2,287 acres, compared to 2,362 acres in 2012. Interestingly, the average is almost back to the level for 2011.
Prices ranged from €3,600/acre for a 25-acre parcel in the north east of the county to a top of €12,800/acre for a small parcel that had been zoned. Of the 16 farms that went to auction, just four sold under the hammer. These included 44 acres at Ballyboy, Kilcormac, which made €435,000 or almost €9,900/acre; 17 acres near Edenderry which was knocked down at €76,000 or almost €4,500/acre; 11.68 acres at Cultree, Kilcormac, which fetched €88,000 or €7,500/acre. One of the bigger farms to sell in the county was a 103-acre residential holding at Killaderry House, Daingean, that sold under the hammer for €750,000 or almost €7,300/acre.
Private sales included almost €10,300/acre for a 20-acre parcel in the north of the county; €5,000/acre for a 35-acre parcel in the Tullamore area; €8,000/acre for a 50-acre block of land; €7,500/acre for a farm in excess of 100 acres in the north of the county; and €4,800/acre for a 60-acre block of land.
Interestingly, of the 16 sales recorded, seven of them made from €7,000 to €8,000/acre. Two of the bigger farms offered for sale were carry-overs from previous years. These included a 145-acre residential farm at Moneyguyneen House, Kinnity, which, the Irish Farmers Journal understands, has been sold in a private deal for an undisclosed sum, while a 225-acre residential unit at Raheenmore House, Kilclonfert, Tullamore, is believed to be still for sale by private treaty. The average for Offaly is 18.3% below the national average for the country which stands at €9,400/acre.
Land supply remained relatively steady in Co Offaly in 2013 but, similar to Limerick, values dropped by 10%. The average price fell from €8,528/acre in 2012 to €7,677/acre last year while the amount of land offered for sale dropped by 3.2% to 2,287 acres, compared to 2,362 acres in 2012. Interestingly, the average is almost back to the level for 2011.
Prices ranged from €3,600/acre for a 25-acre parcel in the north east of the county to a top of €12,800/acre for a small parcel that had been zoned. Of the 16 farms that went to auction, just four sold under the hammer. These included 44 acres at Ballyboy, Kilcormac, which made €435,000 or almost €9,900/acre; 17 acres near Edenderry which was knocked down at €76,000 or almost €4,500/acre; 11.68 acres at Cultree, Kilcormac, which fetched €88,000 or €7,500/acre. One of the bigger farms to sell in the county was a 103-acre residential holding at Killaderry House, Daingean, that sold under the hammer for €750,000 or almost €7,300/acre.
Private sales included almost €10,300/acre for a 20-acre parcel in the north of the county; €5,000/acre for a 35-acre parcel in the Tullamore area; €8,000/acre for a 50-acre block of land; €7,500/acre for a farm in excess of 100 acres in the north of the county; and €4,800/acre for a 60-acre block of land.
Interestingly, of the 16 sales recorded, seven of them made from €7,000 to €8,000/acre. Two of the bigger farms offered for sale were carry-overs from previous years. These included a 145-acre residential farm at Moneyguyneen House, Kinnity, which, the Irish Farmers Journal understands, has been sold in a private deal for an undisclosed sum, while a 225-acre residential unit at Raheenmore House, Kilclonfert, Tullamore, is believed to be still for sale by private treaty. The average for Offaly is 18.3% below the national average for the country which stands at €9,400/acre.
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