Annual SCSI/Teagasc Land Market Review & Outlook 2022

The Society of Chartered Surveyors Ireland (SCSI)/Teagasc Agricultural Land Market Review & Outlook 2022 was published this week. As always, the report provides useful insights into the performance of the agricultural sector. This year’s review includes a special feature on climate change policy in Ireland and its potential implications for the land market.

Download the full report

Below are some key takeaways from the report:

2021 performance:

• 2021 saw a 20% increase in the average farm income in Ireland.
  
  
• An executor/probate sale continues to be the most dominant sale reason in the agricultural land market with 96% of agents reporting that they are active sales.
  
  
• Leinster saw, on average, a 27% increase in rents for grazing and silage land.
  
  
• 4 Leinster counties’ land values for good quality land were between €11,000 and €15,350 per acre on average.
  

• Average land value per acre in Kildare in 2021 (for less than 50 acres) was: €15,350 for good quality land, and €8,775 per acre for poor quality land. Indeed, in some cases land values in Kildare well out-performed that average; the land auctioned by O’Neill & Co. in Waterstown, Sallins, in 2021 is a good case in point, with the final sale price equating to €20,000 per acre.
  
  

Outlook for 2022:

• The agricultural sector is being affected by price rises, such as the more than doubling of fertiliser costs and substantially increased costs associated with fuel and animal feed.
  
  
• It is anticipated that there will be an increase in demand from dairy farmers to purchase agricultural farmland in 2022.
  
  
• An increase in land rental prices is also expected in 2022.
  
  
• SCSI agents point to a continued strong market for those buying smaller lots, especially land that has development potential to build a one-off home.
  
  
• Agents nationally, and across all provinces, anticipate an increase in land values in 2022. Nationally, and provincially, it is expected that the percentage increase in land values will average at 6%, up from a forecast of 4% last year.
  
  

Are you looking for advice on sourcing or selling agricultural land in Kildare or elsewhere in Leinster?
Please contact Darac O’Neill for any land-related queries you might have. Our team are experts in Valuations, Property Sourcing, and Compulsory Purchase Orders in Kildare and further afield.

📱 087 9656063 ☎️ +353 45 856604 📧 darac@oneillandco.ie