Land price rose by 3.6% to average €12,195/ac in the 12 months to 31 March 2025, according to Sherry Fitzgerald’s latest agricultural land price barometer. Prices were up from €11,774/ac a year earlier.

There were significant price rises 2022 and 2023 but a smaller increase in 2024, the review said.

The new figures mean inflation in land prices continues to ease.

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There is continuing caution among farmers about the nitrates derogation, Mercosur and – now – trade tariffs, according to report author Philip Guckian, sales director, country homes, farms and estates with the auctioneer group.

The border region led on price with an increase of 8.8% in the year to 31 March, to €10,333/ac. The mid east, the most expensive region, saw a 4.5% rise to €15,188/ac. Next highest was the mid west at €13,833/ac, up 6.5%.

Only the midlands saw a decrease in prices.

The average price there was €13,590/ac, down by 0.7%.

Looking at land use, prime grassland experienced the biggest rise in prices at 4.7% to average of €13,786/ac. Marginal grassland rose by 1.0% to average €8,015/ac for the 12 months.

Prime tillage land grew 4.0% to €14,783/ac.

“Looking ahead, the introduction of tariffs by the US has created additional disruption, particularly impacting the highly exposed butter and whiskey export markets,” Philip Guckian said.