The number of farms put up for sale collapsed by 29% in 2020 due to COVID-19.
ADVERTISEMENT
The price of farmland rose by 15% in 2020 after a sharp drop in supply caused by the COVID-19 pandemic restrictions, the Irish Farmers Journal Agricultural Land Price Report 2020 has found.
The number of farms put up for sale collapsed by 29% compared to 2019 and the number of acres offered fell by 25%.
The drop was mainly due to concern among landowners that they would not get full market price because of COVID-19.
ADVERTISEMENT
However, as the year progressed, it became clear that demand for land was as strong as ever.
Now, the Irish Farmers Journal can reveal that prices rose by 15% to average €10,316/ac, despite the restrictions.
The sharp drop in supply and jump in prices comes after five years of relative stability in the Irish farmland market.
There was variation around the country in how prices changed, as always. The average price rose in 17 counties and fell in nine.
Fewer big farms
In other changes, fewer big farms of over 200ac were put up for sale. It’s likely that the owners of these high-value properties feared they would not get the best possible price amid the disruptions of 2020.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
The price of farmland rose by 15% in 2020 after a sharp drop in supply caused by the COVID-19 pandemic restrictions, the Irish Farmers Journal Agricultural Land Price Report 2020 has found.
The number of farms put up for sale collapsed by 29% compared to 2019 and the number of acres offered fell by 25%.
The drop was mainly due to concern among landowners that they would not get full market price because of COVID-19.
However, as the year progressed, it became clear that demand for land was as strong as ever.
Now, the Irish Farmers Journal can reveal that prices rose by 15% to average €10,316/ac, despite the restrictions.
The sharp drop in supply and jump in prices comes after five years of relative stability in the Irish farmland market.
There was variation around the country in how prices changed, as always. The average price rose in 17 counties and fell in nine.
Fewer big farms
In other changes, fewer big farms of over 200ac were put up for sale. It’s likely that the owners of these high-value properties feared they would not get the best possible price amid the disruptions of 2020.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS