Land prices rose in 2024 to an average of €12,515/ac, according to the Irish Farmers Journal Agricultural Land Price Report 2024, free inside this week’s paper. This was an increase of 5% on the prices of the year before.

The report found that the land market got off to a very slow start in 2024, affected by the wet spring and low farmer confidence. It was May before land finally dried out and sales really got underway.

Among other notable developments, prices fell in the main dairy counties.

A number of counties saw buoyant sales and higher prices. It was a hectic year in Co Meath with a large number of big farms of top quality land, in tillage as well as grass, put up for public auction and sold at very high prices. Average farmland prices in Co Meath rose by 23% on the previous year to €17,669/ac. Only two other counties had higher prices last year.

Land prices rose by 8% in Co Wexford to €17,771/ac, giving it the second highest prices in the country. There was strong demand there for all properties, big and small, residential and non-residential. Land prices were also up in Clare, Galway and Roscommon.

Land prices continued on their rising trend in Northern Ireland, increasing by 7% in 2024. Prices are highest in Co Armagh. This buoyancy is spilling across into border counties and helped prices to rise by 18% in Co Monaghan to average €12,495/ac.

Despite the wet, slow start, the year finished on a high with prices for milk and livestock improved, farmer confidence back up and superb weather. Land auctions ran up to 19 December with excellent results for sellers.