Prices of farm land continues to fall

Prices in the agricultural land sector continue to fall in the third quarter of 2016, according to Sherry Fitzgerald’s latest Land Price Index.

It found that the average price of land fell by a further 1% in the three months to September, bringing the year to date decline to 2.5%.

Compared to the same period last year, this differs notably from the 1.6% price growth witnessed.

According to Sherry Fitzgerald, the border region fell by 1.4% in the quarter and 4.4% year on year.

Notably, all regions witnessed downward pressure over the past 12 months, with the exception of the midlands and Dublin, where the average price per acre remained stable year-on-year.

An analysis of land types on the market shows prime arable land remains the most challenged with average values declining by 1.5% in the quarter and by 3.2% annually.