The number of acres offered for sale last year fell 13% but the price remained steady, the annual Irish Farmers Journal land price survey has revealed.

The average price of land in Ireland last year was €8,971/acre, a 1.1% fall on the 2018 figure.

The volume of land on the market fell by 13% to 61,506ac, which continues the downward supply trend of the last three years.

However, the proportion of land that was sold increased by 5% on the previous year. There were 33,292 acres recorded as sold in 2019, up 5.07% on the previous year

Overall, the total value of land transactions in the Republic last year was €307.5m.

Dublin and its surrounding counties had some of the highest average land prices in the country

Dublin and its surrounding counties had some of the highest average land prices in the country. On average, land in Dublin made €18,829/acre, land in Kildare made €15,166/acre and Meath was at €12,764/acre.

Meanwhile Mayo had the lowest average price and was the only county with an average value below €5,000/acre.

Business people and dairy farmers bought almost 50% of the land sold last year.

Beef buyers accounted for just under 20% of land area sold.

The average price paid in Northern Ireland during 2019 was £9,956/ac (€11,342/ac)

Tillage buyers paid the highest price for land, at an average of €13,011/acre, compared to €11,067/acre for business buyers and €9,457/acre for dairy buyers.

The average price paid in Northern Ireland during 2019 was £9,956/ac (€11,342/ac), which represents a 2% fall on a high of £10,182/ac in 2018. Tight supply also affected the Northern Irish market, with the volume of land brought to market back by 15%.

Read more in the Irish Farmers Journal Land Report.

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