A survey by Irish Country Living has revealed that Galway tops the list for the highest number of sales and prices achieved in the Connacht region.
At a time when guide prices have not been achieved and there are empty auction rooms across the country, an analysis of national land prices carried out by Country Living, which is part of the Irish Farmers Journal, reveals that there has been a fall across all 26 counties. The report, which runs from January to June 2008 and incorporates 1,053 farms and a total of 42,826 acres, shows that Munster and Connaught have been hit the hardest.
However, the report also shows that just like last year, Galway tops the list in terms of sales in Connacht with 4,456 acres. The highest price for land in Connacht was achieved in Galway at €41,500 an acre; this was the only parcel of land that fetched more than €20,000 an acre. Top sales in Galway included 42 acres near Aughrim, Ballinasloe, sold for €595,000 (€14,167 an acre ) and 26 acres in Williamstown, Co Galway, sold for €256,000 (€9,800 an acre ).
Nationally, the average price for agricultural land is €17,820 an acre which represents a drop of more than €1,200 an acre when compared to the same period last year. Leinster recorded the highest average price at €21,392 an acre, followed by Ulster at €16,064 an acre, Munster at €15,950 an acre and finally, Connacht at €12,261 an acre. Leinster land was highest on sales in the first six months of 2008 with 18,215 acres, 12,324 acres went on sale in Munster, 9,054 acres in Connacht, and 3,243 acres in Ulster.
