The price of land in Offaly is on the rise

€9,906 is the average price per acre

Justin Kelly

Reporter:

Justin Kelly

Email:

justin.kelly@iconicnews.ie

The price of land in Offaly is on the rise

The price of land in Offaly is on the rise

Offaly saw a 4% jump in land prices in 2017 as compared to the previous year, according to a report issued by the Irish Farmers Journal.

The average price per acre of land in Offaly was €9,906 last year, with prices ranging from €4,000-€17,260/acre across the county. 

A total of 49 farms incorporating 2,158 acres were offered for sale in the county in 2017.

There was a high demand for smaller high quality parcels of land, with parcels under 40 acres selling for almost €10,500/acre, above the county average.

The national average land price in the Republic of Ireland in 2017 was €9,088/ac, up 3.61% on 2016 figures of €8,771/ac. The total value of land transactions in the Republic of Ireland was €313m, an increase of 5% on 2016.

The report noted a number of possible reasons for the increase in land prices, including forestry investments and a better milk price, increased production and expanding enterprises in the dairy sector. Businesspeople have also been busy in the market, snapping up land around the country. 

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