Almost 50% of the 93 land sales recorded in Cork were sold to dairy farmers in 2018. But while the competition between dairy farmers was high, it failed to have a positive effect on the land price. Average values dropped almost 4% in 2017 to €11,020/ac, down from €11,444/ac in 2017. North Cork and dairy strongholds around Bandon, Clonakilty and Fermoy saw some of the strongest land prices in the county last year.
Of the 93 sales in Cork in 2018, some of the most notable included: 61ac in Ballybrack near Carrignavar which sold under the hammer in two lots for €870,000 or €14,260/ac; a 19ac lot near Inishannon sold for €295,000 or €15,500/ac; while 60ac sold near Charleville for €500,000 or €8,300/ac.
There is a noticeable business presence in the Cork land market. Almost a quarter of land transactions were purchased by business people, according to our study. It was also clear that they were willing to pay top prices for land.
The highlight of the public auctions in Cork in 2018 was the extraordinary sale of a 101ac farm in Douglas.
The farm sold under the hammer for €5.8m or €58,000/ac. The auction had a number of strong bidders, and was bought by a company from the west of Ireland. In addition, Frank Murphy of Glen Farm South and CEO of Monex, purchased over 100ac in Derrygowna, Glen South, for €890,000 or €8,800/ac.
Almost 44ac in the Kinsale area sold in a private sale for €660,000 or €15,000/ac, to a businessman.
What is also noticeable is the surge of supply in the county. Traditionally Cork provides the highest acreage to the market each year and last year was no different. Almost 9,500ac was up for sale in Cork. That is a 25% rise from last year’s 7,134ac.
Nationally, there were fewer larger holdings over 200ac on the market.
Cork, along with Kildare, had the most, with four.
Vital statistics
*Average: €11,020/acAcres offered: 9,480Total number of farms: 172Price range: €2,500/ac- €57,426/acMost active buyers: DairyWeighted average: €10,808/ac*Based on 93 transactions
Read more
Long read: steady prices but high uncertainty in Ireland's land market
Almost 50% of the 93 land sales recorded in Cork were sold to dairy farmers in 2018. But while the competition between dairy farmers was high, it failed to have a positive effect on the land price. Average values dropped almost 4% in 2017 to €11,020/ac, down from €11,444/ac in 2017. North Cork and dairy strongholds around Bandon, Clonakilty and Fermoy saw some of the strongest land prices in the county last year.
Of the 93 sales in Cork in 2018, some of the most notable included: 61ac in Ballybrack near Carrignavar which sold under the hammer in two lots for €870,000 or €14,260/ac; a 19ac lot near Inishannon sold for €295,000 or €15,500/ac; while 60ac sold near Charleville for €500,000 or €8,300/ac.
There is a noticeable business presence in the Cork land market. Almost a quarter of land transactions were purchased by business people, according to our study. It was also clear that they were willing to pay top prices for land.
The highlight of the public auctions in Cork in 2018 was the extraordinary sale of a 101ac farm in Douglas.
The farm sold under the hammer for €5.8m or €58,000/ac. The auction had a number of strong bidders, and was bought by a company from the west of Ireland. In addition, Frank Murphy of Glen Farm South and CEO of Monex, purchased over 100ac in Derrygowna, Glen South, for €890,000 or €8,800/ac.
Almost 44ac in the Kinsale area sold in a private sale for €660,000 or €15,000/ac, to a businessman.
What is also noticeable is the surge of supply in the county. Traditionally Cork provides the highest acreage to the market each year and last year was no different. Almost 9,500ac was up for sale in Cork. That is a 25% rise from last year’s 7,134ac.
Nationally, there were fewer larger holdings over 200ac on the market.
Cork, along with Kildare, had the most, with four.
Vital statistics
*Average: €11,020/acAcres offered: 9,480Total number of farms: 172Price range: €2,500/ac- €57,426/acMost active buyers: DairyWeighted average: €10,808/ac*Based on 93 transactions
Read more
Long read: steady prices but high uncertainty in Ireland's land market
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