The average price of an acre of land now stands at €9,000 In Co Cavan. That's according to the Institute of Professional Auctioneers & Valuers.
A new report on land prices from the auctioneering body, has found continuing price growth both for purchasing and leasing during 2022 throughout the country. Some areas are now achieving as much as €25,000 an acre, while others are as low as €7,000. Land leasing, which has experienced unprecedented demand, has seen prices rise to as much as €500 an acre in some areas during 2022.
Peter Murtagh of Murtagh Auctioneers in Baileborough says some farmers from across the border are showing interest in plots of land in Cavan.
Peter, a long time contributor to this report confirms average prices in the general area of County Cavan at €9,000 per acre. ‘Supply is an issue with demand coming from the familiar quarters including, dairy and beef farmers, young farmers looking to get established with some interest also coming from Northern Ireland’. He sees see land prices holding firm and as ever, spikes in prices will occur when an attractive holding comes on the market or where there is pent up local demand. The pig sector is significant in his area. He is surprised that there have not been more casualties to date. Government grants have played a key role for pig farmers during a very difficult period. The outlook for 2023 is a reduction in energy and feed costs in the first quarter with a potential welcome uplift possible for the sector.
