Annual SCSI/Teagasc Land Market Review & Outlook 2022
Home » 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.
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.