Armagh has consolidated its position as the most expensive county in NI to buy land.
The average price paid for land in the county last year stood at £13,914/ac, up by £1,209/ac or 9.5% on 2019 levels.
Across the island of Ireland, Armagh lies fourth in the rankings of county average land prices, down from third position in last year’s land report.
The Orchard County has the smallest area of land offered up for sale across all NI counties.
During 2020, there were just 651 acres of land publicly advertised for sale in Armagh. This is 16% lower than 2019 levels and is 46% lower than the area for sale during 2018.
Although Armagh is the smallest county geographically in NI, it still has the tightest supply of land for sale across all NI counties when taken as a proportion of its grassland and arable area.
Only 0.34% of the agricultural area in Armagh was advertised for sale last year.
There were 45 parcels of land offered up in the Orchard County last year. This makes the average lot size 14 acres, which is the smallest across all NI counties.
The tight supply is a key factor driving land prices in Armagh.
The top price recorded in our survey was just under £26,455/ac for a 20ac block in the middle of the county. The property included a disused dwelling house, and an estimate of its value is not included in this selling price.
The lowest price recorded in Armagh was £4,475/ac for a 20ac farm in the north of the county. This land was poorer quality and the property had limited access through a shared lane.
Low prices are relatively uncommon in the Armagh land market. Two-thirds of the sales in our survey made over £12,000/ac and only 17% made less than £9,000/ac.
*Based on 18 transactions