Farmland prices rose significantly in Roscommon last year on the back of a land supply that fell in half.
Looking at supply first, the number of farms put up for sale was 52, down from 112 the year before.
The total area of land offered was 1,662ac, not even half the 3,449ac offered in 2019.
Perhaps responding to this lower supply, average price rose to €7,713/ac, an increase of €1,700/ac. That was a 28% increase.
Forty-three of the farms offered were under 40ac, five were in the range 40ac to 99ac and four were over 100ac. Sixteen were residential and 36 non-residential.
Average price for the smaller farms under was €7,792/ac and average price for the larger farms was €6,685/ac.
Roscommon landowners went for private treaty. Forty-five of the farms were offered this way, six were put up for auction and one offered by tender.
Some of the planned auctions were cancelled, mainly due to lockdown restrictions. Twenty-eight of the 52 farms that were offered successfully sold.
The range in prices paid was from €3,767/ac to €14,722/ac. The total value of all land sold was €5.55m.
The category of buyer that was most active was business, which includes investors, non-farmers and farmers with substantial off-farm income.
Two holdings were sold by auction.
One was the 28.16ac of grassland at Cloongowna, Bealnamulla, which sold for €270,000 or €9588/ac under the hammer. The other was 27ac at Kilgarvan, Ballinasloe, which sold for approximately €272,000 or €10,084/ac.
Of the 28 farms that sold, five made prices over €10,000/ac.
*Average: €7,712/ac Acres offered: 1,663 Total number of farms: 52 Price range: €3,767/ac - €14,722/ac Most active buyers: Business Weighted average: €7,599/ac *Based on 28 transactions
Farmland prices rose significantly in Roscommon last year on the back of a land supply that fell in half.
Looking at supply first, the number of farms put up for sale was 52, down from 112 the year before.
The total area of land offered was 1,662ac, not even half the 3,449ac offered in 2019.
Perhaps responding to this lower supply, average price rose to €7,713/ac, an increase of €1,700/ac. That was a 28% increase.
Forty-three of the farms offered were under 40ac, five were in the range 40ac to 99ac and four were over 100ac. Sixteen were residential and 36 non-residential.
Average price for the smaller farms under was €7,792/ac and average price for the larger farms was €6,685/ac.
Roscommon landowners went for private treaty. Forty-five of the farms were offered this way, six were put up for auction and one offered by tender.
Some of the planned auctions were cancelled, mainly due to lockdown restrictions. Twenty-eight of the 52 farms that were offered successfully sold.
The range in prices paid was from €3,767/ac to €14,722/ac. The total value of all land sold was €5.55m.
The category of buyer that was most active was business, which includes investors, non-farmers and farmers with substantial off-farm income.
Two holdings were sold by auction.
One was the 28.16ac of grassland at Cloongowna, Bealnamulla, which sold for €270,000 or €9588/ac under the hammer. The other was 27ac at Kilgarvan, Ballinasloe, which sold for approximately €272,000 or €10,084/ac.
Of the 28 farms that sold, five made prices over €10,000/ac.
*Average: €7,712/ac Acres offered: 1,663 Total number of farms: 52 Price range: €3,767/ac - €14,722/ac Most active buyers: Business Weighted average: €7,599/ac *Based on 28 transactions
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