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Reports from auctioneers indicate that there has been a firm demand for agricultural land and residential farms in Northern Ireland (NI) during 2018 so far.
A rising market is being seen in the southern half of NI, with prices of £15,000/ac to £16,000/ac (€16,950/ac to €18,084/ac) seen in the areas of Armagh, Down and Tyrone where the supply of land coming onto the market is limited. Auctioneers indicate that prices of around £13,000/ac (€14,689/ac) are closer to the average price paid in these counties for good-quality, bare land.
Trade elsewhere in NI has been described as steady this year, with the same quality land going for £8,000/ac to £10,000/ac (€9,039/ac to €11,300/ac).
That comes as NI agriculture faces changing and uncertain times in the form of Brexit, with a key issue being future agricultural policy. The design of post-Brexit farm support in NI will largely be up to a future NI executive at Stormont to decide as agriculture is a devolved matter in the UK.
However, it will be funded by the Treasury in London and plans announced for England and Wales last month point to a phasing out of direct payments over a seven-year period. Payments in England and Wales after 2027 will be for measures mainly relating to environmental management.
However, the uncertainty surrounding future farm payments hasn’t put off many bidders in the land market in NI. Land prices have held steady since the Brexit vote in June 2016, with average prices in NI only decreasing by 0.7% to £9,750/ac (€11,080/ac) last year. Auctioneers point out that the biggest driver of demand for farmland is the lack of supply. So far this year, our records show that almost 16,000 acres have been publicly advertised for sale here, which represents only around 0.65% of NI’s total agricultural area.
When a piece of land comes up for sale, potential buyers tend to think about how it is such a rare occurrence. The most recent announcement from a politician in London about future agricultural policy becomes largely irrelevant.
NI land market snapshot
There has been a number of impressive properties come on the NI agricultural land market in recent weeks. Irish Country Living provides a quick overview of five properties on offer across NI at present:
Drumhoney, Lisnarick, Co Fermanagh
Size: 40 acres
Guide price: £325,000 (€368,725) or £8,125/ac (€9,218/ac)
Auctioneer: Gordon Robinson
This well-maintained non-residential farm is situated 0.5 mile from the main Lisnarick-Enniskillen road and has access to Liscreeven Lough.
The 40 acres of farmland are farmed in a good heart, with grass swards in top condition following reseeding in several fields in recent years. The farm is well fenced and all fields have drinkers that are served by mains water supply. The property also comes with a functioning farmyard for cattle. The yard contains handling facilities for cattle, including outside pens and a crush. Farmyard comprises a three-bay silage pit, a four-bay slatted cattle house, three-bay lean-to slatted house and another two-bay slatted house.
Shore Road, Toomebridge, Co Antrim
Size: 75 acres
Guide price: £910,000 (€1.03m) or £12,133/ac (€13,725/ac)
Auctioneer: H.A. McIlrath and Sons
This property is located two miles from Toome, five miles from Randalstown and has frontage onto Lough Neagh. The 75 acres of agricultural land is dry, good quality land. The farm is all laid out in grass at present and has been well maintained. The current owner uses the farm for grazing cattle and sheep and silage.
A total of 14 acres along the lough shore is classified as sensitive permanent grassland and is not allowed to be ploughed. The property is available in two lots, with the first lot being 27.6 acres along the Annaghmore Road. Another lot of 47.6 acres runs along the Shore Road.
Crew Road, Ardglass, Co Down
Size: 172 acres
Guide price: £1.20m (€1.36m) or £6,977/ac (€7,890/ac)
Auctioneer: Quinn Property Sales and Letting
This 172-acre estate in east Co Down includes a four-bed house, agricultural land, a woodland plantation and a lake. The agricultural land extends to 58 acres of arable-type land and 23.5 acres of Areas of Special Scientific Interest (ASSI) environmentally designated land. The plantation is 77 acres in size and was planted with a variety of spruce, birch and oak trees around 30 years ago. The lake comes to around 10 acres and there is two acres of ground around the farmhouse.
The singe-storey house extends to 3,000 square feet and has a detached double garage. The property is available as a whole, or in lots.
Kilmore Road, Lurgan, Co Armagh
Size: 53 acres
Guide price: Open to offers
Auctioneer: Hewitt Property Agents
This farm extends to 53 acres of good-quality land that is considered early growing ground. The property is available as a whole or in three lots. The first lot is at Kilmore Road and includes 20 acres of land, a single-storey residence and a farmyard. The land is divided into four fields of fairly equal size. The second lot is positioned across the road from lot one and extends to eight acres laid out in a single field. Lot number three is a distance away from the main farmyard on the Old Kilmore Road. This lot extends to 25 acres across six fields.
Mullaghnamoyah Road,
Portglenone, Co Derry
Size: 73.5 acres
Guide price: Open to offers
Auctioneer: Paul Birt
This residential dairy farm is located near the Derry-Antrim border and extends to 73.5 acres in size. There is a mix of land type, including 53.5 acres of good-quality arable land, 10 acres of rough grazing and another 10 acres of ASSI environmentally designated land. The dwelling house is a detached two storey house beside the main farmyard. The extensive yard comprises three cubicle houses with space for over 200 cows. There are three open silage pits with the ability to hold 2,500 tonnes, a range of solid-floor houses, and a 5,000 sq ft meal store/warehouse. The milking parlour is optional in the sale. CL
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