Land prices increase across the north west

Land prices have increased across counties Sligo, Leitrim and Donegal when compared with prices a year ago.

Figures released by the Irish Farmers Journal in its Land Price Report shows there was a significant jump in the cost of land in Sligo.

Sligo land prices jumped by over 6% according to the latest research from the Irish Farmers Journal.

The average price per acre increased from €6,373 in 2017 to €6,761 in 2018.

This is the highest price in the county since 2010 and 60% of the land offered onto the market sold last year.

However, supply did drop almost 9% over the that period,

County Donegal had the lowest land supply in Ireland with a 416% fall in acres offered last year.

The average price in the county did increase however in 2018 with land values increasing by over €1,300 per acre.

The strongest prices were seen in the east of the county, close to the border with the North.

Meanwhile in Leitrim land prices reached over €5,000 per acre for the first time since 2010.

Leitrim had the highest number of forestry sales in Ireland last year, with almost 20% of land sold for forestry.

Over 45% of land transactions were by beef farmers making it the third highest for such sales in the country.