The average selling price for farmland in Derry fell by £1,560/ac, or 12%, last year to settle at £11,402/ac. The Oakleaf County now ranks in fifth place in the NI land price figures. And it sits in 18th position in the island of Ireland figures, down from seventh place in 2022.

Our records show that 1,692ac of land were offered up for sale in Derry during 2023. This is just 74ac less than the year previous. The area of land advertised for sale in Derry last year equates to 0.55% of the county’s total grassland and arable area.

There were 58 pieces of land publicly put on the market in the county last year, which makes the average lot size stand at 29ac. The figures vary little from the year before when 59 farms were offered up at an average size of 30ac.

Approved site

Just under 30% of all properties on the market in Derry during 2023 included a dwelling house or approved building site.

The top price recorded in our survey was over £21,000/ac for a small parcel of dry land located in the north of the county. In contrast, the lowest price was just £7,500/ac for around 20 acres of heavier land in the same area.

The 2023 average land price in Derry is still the second highest on record for the county. It is below the record high of £12,962/ac in 2022, but is ahead of the 2021 average of £10,543/ac.

Overall, 9% of transactions in Derry last year made over £20,000/ac and the same proportion of sales were in the £15,001-20,000/ac bracket. The majority of transactions (52%) were between £10,001-£15,000/ac and 30% of sales in Derry during 2023 made under £10,000/ac.