The average price of land in Cavan was €6,605/ac, back 3% on the 2017 value of €6,817/ac. It is the third successive year in which land prices were below €7,000/ac, having surpassed this in 2014 and 2015. Almost 55% of sales closed last year.

Prices in Cavan ranged from €2,652/ac for a large holding in the west to almost €10,500/ac for a smaller package near Shercock. Part-time beef farmers dominated the market in the county, with 40% of all land sales purchased by beef farmers with a secondary income. Areas of stronger dairy interest would have seen the better land values, with farms in parts of the east of the county noting greater prices.

The supply of land in Cavan was up in 2018. Over 1,720ac went up for sale, a 9% increase. However, there was a 10% drop in the acreage sold.

Land sales were similar to other years in Cavan in terms of distribution of price. There were 15 parcels under €7,000/ac and only three over €9,000/ac, typical of previous years here.

Sales in the county last year included 46ac near Virginia, which sold under the hammer in two lots for €340,000 or €7,555/ac; 27ac sold in Shercock for €210,000 or almost €7,800/ac; a 38ac farm sold near Drung for over €7,000/ac, while in Greaghlough near Mullagh, a 50ac residential farm sold under the hammer for €270,000 or €5,400/ac.

Agents noted farmers’ difficulty in accessing finance last year as well as the uncertainty of Brexit potentially affecting demand for land here.

One auctioneer observed that there is demand for smaller more affordable holdings, but once a land sale reaches €300,000, buyers get scarce. Interestingly, just three sales exceeded €300,000 in Cavan in 2018, and one of those was divided into individual lots.

Vital statistics

  • *Average: €6,605/ac
  • Acres offered: 1,721
  • Total number of farms: 47
  • Price range: €2,652/ac- €10,433/ac
  • Most active buyers: Beef
  • Weighted average: €6,067/ac
  • *Based on 25 transactions

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