Quality and location are the two biggest determinators of price in north Galway according to Tuam-based auctioneer, Tom Tyrell. Speaking to Irish Country Living he said that demand is good for any parcel of land that has come up either for sale or leasing in the area.
“We’ve a pair of smaller holdings at the moment, a 16ac farm at Killuney, Dunmore is one and that has had strong interest and it’s passed asking price already. There’s another larger farm in the Dunmore area too. It’s 37.6ac and there are bids from two parties on it.”
When it comes to leasing, figures of €300/ac can be had for good ground, he said: “We’re getting that for land that is close to Tuam town and it’s working back from that then. We’re constantly getting calls for extra land but it’s just not there at the moment.”
He was speaking as Tyrrell Auctioneers & Valuers Tuam celebrate over 50 years in operation.
The country and the business of auctioneering has changed immensely over the half decade. Martin Tyrell returned home from Australia in the late 1960s having served as a policeman there.
“It’s a transformed Ireland altogether.
The overall scene was very depressing when I came back but the big difference is, there’s huge confidence there now especially with young farmers and it’s wonderful to see it. Teagasc are due some credit there, especially what they did with drainage advice around this area. A snipe would need wellingtons to go through some of it before and now it’s good ground and farmland.
“When I started, we were getting €2,500/ac or €2,000 for a house on a bit of ground. The highest we got was €22,000/ac but €10,000 to €12,000/ac would be the going rate for good land.”
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