WITH the exception of Leitrim, Galway was marginally the cheapest county in the west and north-west to buy non-residential farmland during the course of 2022, according to the latest national survey of prices.

The survey showed that the average price of an acre of ‘good land’ in Galway last year, for holdings under 50-acres, was €9,500 – the dearest was Donegal at €12,143 while the cheapest was Leitrim at €6,140 an acre.

Jointly researched by Society of Chartered Surveyors Ireland (SCCI) and Teagasc, the survey also indicated that only 0.5% of land in Ireland goes up for sale each year, a major factor in terms of demand for leased land.

‘Good land’ in Mayo [under 50-acres] averaged out at €10,092; the figure for Roscommon was €9,938; with Sligo coming in at €9,550.

When it came to a comparison of poorer quality land in Connacht [under 50-acres], Mayo was the cheapest at €2,886 followed by Leitrim on €3,300 while Galway topped ‘poor land price league’ at €5,375 per acre.

Auctioneer Martin O’Connor of DNG O’Connor, Oughterard, said that the market was being driven by dairy farmers ‘who are continually ranked throughout the survey as the most likely purchasers of land across the country’.

He said that changes in the European Nitrates Directive in relation to improving water quality meant that many dairy farmers needed more land to comply with this directive.

“In order to maintain current levels of milk production – and to comply with the directive – many dairy farms will need to either increase their land area or reduce milk production.

For more, read this week’s Connacht Tribune.

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