LAND prices have jumped by €7,000/ac in the first five months of this year, as the buoyant land market continues to grow.

A Farming Independent survey reveals that the average price of land auctioned so far this year is €25,889, a figure which is up €7,019/ac on farm sales last year. Last year saw 257 farms sold for an average of €18,870/ac.

Sales of land have amounted to €113,061,000 in the period from January 1 to May 31 this year, accounting for 90 farms sold at auction. A total of 4,367ac of land has been sold under the hammer in these sales.

The figures are taken from all auction sales of land reported in the farming press from January 1 to May 31, 2006.

The price of land sold at auction ranged from €7,000/ac all the way up to €236,666/ac. The lowest price of €7,000/ac was paid for 40ac residential farm at Cartonfree, Kilcogy, Co Cavan, while the highest price of €236,666/ac was paid for 3ac in Kilmuckridge, Co Wexford. This land was zoned as agricultural but its location close to the town boundary means it is likely to be rezoned in the near future.

Posted: 06|6|06 at 8:27 am. Filed under: Property & Land.