At an average price of €4,560/acre, land in Leitrim is the least expensive in the country, followed by Roscommon at €5,144/acre, Mayo at €5,701/acre and Clare at €5,865/acre. After experiencing a 20.3% rise the previous year, average values actually fell last year, going from €4,869/acre in 2015 to €4,560/acre in 2016, representing a 6% decrease.

Supply, on the other hand, actually increased, with over 340 acres more offered for sale. A total of 32 farms incorporating 1,188 acres were brought to the open market. This puts Leitrim fourth in terms of least land offered for sale and is preceded by Sligo at 1,115 acres, Dublin at 919 acres and Waterford at 658 acres.

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Prices ranged from €2,800/acre for a 70 acres of poor-quality land to a top price of €6,200/acre for a 45.6-acre farm situated near Dromahair which sold under the hammer for €285,000. Our analysis shows that a significant quantity of land in Co Leitrim was bought up by forestry companies. The highest price paid by a forestry company was €5,200/acre which was given for a 100-acre plus block that had good access.

In a number of cases, farmers were outbid by forestry companies, which meant that locals had to go the extra mile if they wanted to be successful in securing land.

Other sales included €4,400/acre for a residential package near Dromahair; a sizeable block in the Carrigallen region that contained some planted land averaged €4,000/acre; land in the Aughavass region sold for €5,200/acre while a 50-acre block in the Cloone area sold for €4,900/acre. Also, a 35-acre residential holding in the Kinlough area made €4,900/acre and a small residential package close to Dromahair sold for €6,000/acre.

A nice level of activity saw 16 completed sales. Two of the bigger farms included a 146-acre holding near Manorhamilton and a 100-acre farm near Carrigallen. Both of these were suitable for forestry and sold privately.