A year ago, Mayo had the lowest farmland price in the country. However, 2020 was a better year for sellers in the county. Average price was well up and so too the supply of farmland.
In 2020, the county lifted itself to third from the bottom when counties are listed by price.
Some 3,371ac of land was offered on the market, in 45 farms. That was a significant increase on the 2,346ac offered in 2019 on 61 farms.
Most of the farms were under 40ac in size. Seven were between 40ac and 99ac.
However, another seven farms were over 100ac and some of these were big. Two were over 500ac.
Twenty-three of the 45 farms put on the market sold. Average price was €6,290/ac, up from €4,809/ac in 2019.
Sale prices ranged from €1,000/ac to €15,000/ac, a wider spread then in 2019. There was a very large difference between small and large holdings.
Holdings under 40ac averaged €7,353/ac while those over 40ac averaged €4,298/ac.
The total value of land sold in the county in 2020 was €6.1m.
The largest category of buyer was business at 38% of farms sold. It was followed – at 29% of purchases – by farmers with mixed enterprises which would generally be cattle and sheep farmers. Next were beef and drystock farmers at 19% and sheep farmers at 5%.
Private treaty was by far the most popular route to market, with 41 of the 45 farms offered for sale this way, three by auction and one by tender.
Two of the farms put up for auction were sold. One was 55.8ac Duvillaun Beg Island, near Belmullet. This island is 2.4km off the coast and accessed by boat from Blacksod Pier.
It has a freshwater spring and sheep handling facilities. It was sold after auction.
Also sold at auction was 35ac at Barnacogue, Kilkelly, which sold for €35,000.
*Average: €6,290/ac Acres offered: 3,371 Total number of farms: 45 Price range: €1,000/ac - €15,000/ac Most active buyers: Business Weighted average: €3,388/ac *Based on 23 transactions
A year ago, Mayo had the lowest farmland price in the country. However, 2020 was a better year for sellers in the county. Average price was well up and so too the supply of farmland.
In 2020, the county lifted itself to third from the bottom when counties are listed by price.
Some 3,371ac of land was offered on the market, in 45 farms. That was a significant increase on the 2,346ac offered in 2019 on 61 farms.
Most of the farms were under 40ac in size. Seven were between 40ac and 99ac.
However, another seven farms were over 100ac and some of these were big. Two were over 500ac.
Twenty-three of the 45 farms put on the market sold. Average price was €6,290/ac, up from €4,809/ac in 2019.
Sale prices ranged from €1,000/ac to €15,000/ac, a wider spread then in 2019. There was a very large difference between small and large holdings.
Holdings under 40ac averaged €7,353/ac while those over 40ac averaged €4,298/ac.
The total value of land sold in the county in 2020 was €6.1m.
The largest category of buyer was business at 38% of farms sold. It was followed – at 29% of purchases – by farmers with mixed enterprises which would generally be cattle and sheep farmers. Next were beef and drystock farmers at 19% and sheep farmers at 5%.
Private treaty was by far the most popular route to market, with 41 of the 45 farms offered for sale this way, three by auction and one by tender.
Two of the farms put up for auction were sold. One was 55.8ac Duvillaun Beg Island, near Belmullet. This island is 2.4km off the coast and accessed by boat from Blacksod Pier.
It has a freshwater spring and sheep handling facilities. It was sold after auction.
Also sold at auction was 35ac at Barnacogue, Kilkelly, which sold for €35,000.
*Average: €6,290/ac Acres offered: 3,371 Total number of farms: 45 Price range: €1,000/ac - €15,000/ac Most active buyers: Business Weighted average: €3,388/ac *Based on 23 transactions
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