Farmers of all types were the dominant buyers of farmland in Wexford last year and they helped prices rise by a significant €1,720/ac, to average €13,858/ac.
Supply was down. The number of farms put on the market was 37, down from 52. The total area offered was 1,408ac, well under half of the 3,841ac of 2019.
Half of the farms offered (25) were in the small category – under 40ac. Another 10 were 40ac to 99ac but just two were over 100ac. Fifteen were residential, while 22 were non-residential.
Wexford landowners are ready and willing to go for auction. As a result, 19 of the farms were offered by private treaty and 18 by auction. Auctions were successful, with 14 of these farms sold under the hammer.
In all, 22 of the 37 farms that were offered had been sold by year-end. There was no premium for smaller holdings.
They averaged €13,726/ac while farms over 40ac averaged €14,089/ac.
The range in prices paid was €6,111/ac to €23,168/ac. The total value of land sold was €11.4m.
Buyer type in Wexford last year was very diverse. That’s not surprising considering the diversity of farming carried out and it has been the pattern of recent years.
Dairy farmers bought over one-third of holdings that were sold, followed by mixed-enterprise farms. Tillage farmers level-pegged with beef and business buyers.
Some of the auctions were very competitive and resulted in strong prices.
For example the 87ac Coonahorna at Enniscorthy sold under the hammer for €1.76m or €20,287/ac. The 33ac Ballinamona, near Gorey was knocked down for €600,000 or €20,000/ac. The 50.5ac Monagreana Lower at Monamolin, also near Gorey, sold for €905,000 or €17,920/ac.
*Based on 22 transactions