The Southeast appears to be the most expensive region to purchase agricultural land. It’s understood that at €10,645/ac the region was ahead of the national median price of €6,992/ac. This comes as the Central Statistics Office (CSO) released its latest data findings earlier this week. The data additionally reveals that there was a decline in the volume of agricultural land sold in Ireland in 2020 compared to 2019.
CSO statistician, Anthony Dawson says the publication shows that there was a noticeable decline in the volume of land sold in Ireland in 2020 with 29,031ac of land sold at a median price of €6,992/ac compared with 61,997ac of land sold in 2019.
Meanwhile data shows that the Southwest had the lowest value of land sold in 2020 with €4.45 million worth of land sold.
Dawson adds that Galway, Mayo and Roscommon were the least expensive region to purchase land where 6,412ac of land sold for a median price of €4,625. CSO data revealed that, in 2020, the median price for arable land was €10,338/ac, while the median price for permanent grassland was €6,791/ac.
It’s understood that an updated methodology was used to compile the Agricultural Land Prices for 2020. This reveals that more transactions were used to calculate the quality and coverage of land price statistics.
LSL News.