Land prices staged a resurgence in Cavan in 2020, jumping to an average of €8,336/ac. It was quite a turnabout – prices fell in 2018 and 2019.
Average price has been below €7,000/ac since 2015.
Supply on the market fell but the decrease was not significant. Landowners offered 45 farms for sale, down from 47 the year before.
The total area of land offered on the market was 1,347ac, down somewhat from 1,392 in 2019.
Fewer of the farms offered last year were residential. The number was 16 compared with 23 the year before.
High quality
The factor that probably did push up prices was the number of high-quality properties, some residential, that came on the market in the county. That is why the price range in the county was up €2,778/ac to a whopping €19,615/ac.
For example, there were some 80 enquiries to Raymond Potterton Actioneers about the 26ac holding at Ross, Mountnugent, which went on to be sold by online auction in November, making €19,615/ac, which was double the guide price.
The wow factor here were the land’s scenic views over Lough Sheelin. The fact that the residence on the land needed complete refurbishment was no hindrance.
Prime location
Location was a big plus for Edermin House on 71ac, sitting at the edge of Cavan town, although the period house itself is also very appealing.
The agents handling the sale guided the property at €900,000 and sold it by private treaty.
Seventeen acres at Greaghlone, Shercock, made €15,353 at auction. A 10ac holding at Closnabradden, Shercock, made €14,600/ac at auction.
A number of quality holdings sold well by private treaty, including the five-bedroom Annalee House on 33ac at Knappagh.
*Average: €8,336/ac Acres offered: 1,347.7 Total number of farms: 45 Price range: €2,778/ac - €19,615/ac Most active buyers: Beef Weighted average: €8,178/ac *Based on 28 transactions
Land prices staged a resurgence in Cavan in 2020, jumping to an average of €8,336/ac. It was quite a turnabout – prices fell in 2018 and 2019.
Average price has been below €7,000/ac since 2015.
Supply on the market fell but the decrease was not significant. Landowners offered 45 farms for sale, down from 47 the year before.
The total area of land offered on the market was 1,347ac, down somewhat from 1,392 in 2019.
Fewer of the farms offered last year were residential. The number was 16 compared with 23 the year before.
High quality
The factor that probably did push up prices was the number of high-quality properties, some residential, that came on the market in the county. That is why the price range in the county was up €2,778/ac to a whopping €19,615/ac.
For example, there were some 80 enquiries to Raymond Potterton Actioneers about the 26ac holding at Ross, Mountnugent, which went on to be sold by online auction in November, making €19,615/ac, which was double the guide price.
The wow factor here were the land’s scenic views over Lough Sheelin. The fact that the residence on the land needed complete refurbishment was no hindrance.
Prime location
Location was a big plus for Edermin House on 71ac, sitting at the edge of Cavan town, although the period house itself is also very appealing.
The agents handling the sale guided the property at €900,000 and sold it by private treaty.
Seventeen acres at Greaghlone, Shercock, made €15,353 at auction. A 10ac holding at Closnabradden, Shercock, made €14,600/ac at auction.
A number of quality holdings sold well by private treaty, including the five-bedroom Annalee House on 33ac at Knappagh.
*Average: €8,336/ac Acres offered: 1,347.7 Total number of farms: 45 Price range: €2,778/ac - €19,615/ac Most active buyers: Beef Weighted average: €8,178/ac *Based on 28 transactions
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