The latest survey conducted among Real Estate Alliance (REA) auctioneers nationwide has revealed a significantly buoyant land market in 2024.
According to REA's findings, the number of farms sold rose by 8% with total acreage increasing by 14%, and revenue surging by an impressive 20%. The average per-acre price for non-residential land stands at €14,728, reflecting a 6% rise from 2023's figure of €13,940.
In total, 98 farms covering 3,034 acres changed hands in 2024 through REA agents. Welcoming the REA Land Survey 2024, Cavan auctioneer James Spring of REA Donohue Spring says that it's a great time to sell farms, there are plenty of buyers and prices are buoyant.
Commenting on local land sales in 2024, James says "While we didn't have extensive sales in 2024, when quality farms came up for sale, demand and prices exceeded expectations. We sold land right up to Christmas. In fact, one farm came on the market in early November and we presumed it wouldn't sell until the New Year but it was signed sealed and delivered by Christmas." James has some farmland on his books at the moment and interest is exceeding expectations and demand is intense.
