It has been steady as she goes for the land market in Offaly last year. Both supply and price remain stable, with minimal change for both over the course of the 12 months.
In terms of price, Offaly stands just below the acclaimed €10,000/acre mark with prices averaging €9,906/acre. This is up 4% from 2016 which stood at €9,557/acre. Of the 31 completed transactions, prices ranged from €4,000/acre to €17,259/acre for a superb residential property sold in the spring.
There was a consistent demand for all sized holdings in the county last year. In terms of breakdown, almost 70% of holdings that came to the market under 40 acres were sold, while 56% of the properties over 40 acres were sold. There was also an evident willingness to pay for smaller high quality parcels, with the average paid for such packages standing at a nifty €10,425/acre, almost €500/acre more than the county average value.
In addition, there was success in the auction room, with almost 70% of holdings selling under the hammer, one of the highest success rates in the country.
Some of the properties that sold at auction included a quality 133.5 holding located in Killeenmore and Aughanrush, which sold for €1.44m or €10,779/acre having been offered in three lots; Ashmount House on 171 acres at Clonygowan sold under the hammer for €1.68m or €9,825/acre while a 73 acre holding in Clonavoe near Clonbullogue went for €365,000 or €5,000/acre. The most substantial sale of the year in the Faithful County was that of Milltown Park. The 285ac estate sold for close to its guide of €2.75m or €9,646/ac.
For the most part, auctioneers said that 2017 was a stronger year than 2016. With 15 of the 31 completed land sales fetching over €10,000/acre, this anecdotal evidence would suggest so.
Vital statistics
*Average: €9,906/acreLand offered: 2,158 acresPrice range/acre: €4,000 to €17,259No of farms offered: 49Biggest farm offered: 285 acresWeighted average: €9,336/acre*Based on 31 transactions
Read more
Exclusive: €313m of farmland sold in 2017
Big jump in average land prices in Carlow
Biggest land price increase in Laois
Highest land prices and a bumper year Kildare
Land supply well up, price well down in Kilkenny
It has been steady as she goes for the land market in Offaly last year. Both supply and price remain stable, with minimal change for both over the course of the 12 months.
In terms of price, Offaly stands just below the acclaimed €10,000/acre mark with prices averaging €9,906/acre. This is up 4% from 2016 which stood at €9,557/acre. Of the 31 completed transactions, prices ranged from €4,000/acre to €17,259/acre for a superb residential property sold in the spring.
There was a consistent demand for all sized holdings in the county last year. In terms of breakdown, almost 70% of holdings that came to the market under 40 acres were sold, while 56% of the properties over 40 acres were sold. There was also an evident willingness to pay for smaller high quality parcels, with the average paid for such packages standing at a nifty €10,425/acre, almost €500/acre more than the county average value.
In addition, there was success in the auction room, with almost 70% of holdings selling under the hammer, one of the highest success rates in the country.
Some of the properties that sold at auction included a quality 133.5 holding located in Killeenmore and Aughanrush, which sold for €1.44m or €10,779/acre having been offered in three lots; Ashmount House on 171 acres at Clonygowan sold under the hammer for €1.68m or €9,825/acre while a 73 acre holding in Clonavoe near Clonbullogue went for €365,000 or €5,000/acre. The most substantial sale of the year in the Faithful County was that of Milltown Park. The 285ac estate sold for close to its guide of €2.75m or €9,646/ac.
For the most part, auctioneers said that 2017 was a stronger year than 2016. With 15 of the 31 completed land sales fetching over €10,000/acre, this anecdotal evidence would suggest so.
Vital statistics
*Average: €9,906/acreLand offered: 2,158 acresPrice range/acre: €4,000 to €17,259No of farms offered: 49Biggest farm offered: 285 acresWeighted average: €9,336/acre*Based on 31 transactions
Read more
Exclusive: €313m of farmland sold in 2017
Big jump in average land prices in Carlow
Biggest land price increase in Laois
Highest land prices and a bumper year Kildare
Land supply well up, price well down in Kilkenny
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