The average selling price for farmland in Derry eased back by 3.9% or £325/ac last year to £8,015/ac.
The Oakleaf County continues to rank fifth across NI counties for land price and is in 22nd place across the island of Ireland.
Our records show that 1,518 acres of land were offered up for sale in Derry during 2020. This is down 31% year on year and is 39% lower than 2018 levels.
The area of land advertised for sale in Derry last year equates to 0.5% of the county’s total grassland and arable area.
There were 52 pieces of land publicly put on the market in Derry last year, which makes the average lot size equate to 29 acres. This differs from the year previous when 67 lots were offered up for sale at an average size of 33 acres.
The top price recorded in our survey was almost £13,700/ac for a 25ac parcel of land located near the Donegal border. At the other end, the lowest price was £4,050/ac for 20 acres of poor-quality land in the south of the county.
A large parcel of heavy land in the east of the county sold for under £6,500/ac during the year.
This transaction pulled down the average price across the county and if this single property were excluded, it would leave Derry’s average land price at almost £8,700/ac.
Prices of £9,000/ac to £9,500/ac were common for parcels of good-quality land throughout the county last year.
Overall, 47% of transactions in Derry last year fell within the £6,000/ac to £9,000/ac bracket and 38% of sales were between £9,000/ac and £12,000/ac.
Just 5% of sales in Derry made over £12,000/ac and 10% of transactions equated to less than £6,000/ac.
*Based on 21 transactions