National farmland prices are forecast to rise by 8 per cent on average this year.
That’s according to the Society of Chartered Surveyors Ireland/Teagasc annual agricultural land market report.
The report has found that the price of land across the north west is ranging from 12,143 per acre to as little as 3,300 per acre.
The report covers plots of land under 50 acres.
The agricultural land has been dived into categories known as good and poor quality land.
In Sligo Good quality land was securing 9,950 euro per acre and 4,250 for poor quality land. That represents a decrease of 450 euro per acre on good quality and an increase of 350 per acre on poor quality land.
Both Good and poor quality land prices fell in price in County Leitrim. High Quality land reduced by 1,115 euro per acre to a price 6140 and poor quality reduced by 550 per acre to 3300.
In Donegal the price for high quality land increased by 161 euro per acre to 12,143 while the price of poor quality land decreased by 1232 euro per acre to currently stand at 3786 euro per acre.
The most expensive land is in Kildare where good quality land is fetching an average of just over €15,000 per acre.
The cheapest is in Mayo where poor-quality land is selling for an average of €2,866 per acre.
Sligo based auctioneer John Murphy says the interest of forestry companies in the market at present is good news for those selling land:
