It was a buoyant year for landowners and auctioneers in Galway. The supply of land for sale and selling prices were both well up.

Forty-nine holdings were put on sale, up from 34 the year before. The total area offered was 2,413ac, up from 1,351ac. Thirty-two of the farms were sold by year end, up from 23.

Average price was €8,846/ac, an increase of €1,581/ac or 21%. Smaller holdings fetched more. The 27 farms under 40ac sold for an average of €10,188/ac. Larger farms averaged €6,609/ac. There were more customers for the smaller farms.

Eight farms were put up for auction, with six of these selling under the hammer – another sign of a buoyant market.

Land quality varies widely in the county and so too, therefore, do prices. They varied from just under €1,000/ac for very mixed land, right up to €19,300/ac.

Thirteen of the holdings offered for sale were residential, with anything from barely standing walls to a ready-to-go dwelling. Any residence can add value to land in Galway, particularly if near the city or the motorways.

Colm Farrell Auctioneers sold 39ac with bungalow and yard at Peterswell at auction for €700,000. He achieved €810/ac for 178ac of rocky out-winterage near Gort – a good outcome for this particular type of land. DNG Martin O’Connor handled the sale by private treaty of 281ac at Knockanbaun, Maam Valley, with the new owners intent on protecting its high environmental value.

Farrell Auctioneers had 96.34ac at Derrywee, Fox & Gallagher handled 60ac at Loughrea, Joseph Naughton Auctioneers had 66ac at Killimor and Martin Tyrrell Auctioneers had 53ac at Corrandulla.

Average: €8,846/ac

% change on 2021: 22

Acres offered: 2,413

Total number of farms: 49

Price range: €809/ac to €19,300/ac

Most active buyers: business

Weighted average: €6,492/ac

Number of transactions: 32