Agri-land Insights & Advice

2024 Agricultural Land Report

In a major new survey, auctioneer, and valuer members of the Society of Chartered Surveyors Ireland (SCSI), operating in the agricultural sales and rental market say average rental prices in 2024 are expected to increase by 4%.

In Munster average rental prices are expected to rise by 7% while in Connacht / Ulster an increase of 6% is forecast. In contrast SCSI agents expect average land rental prices in Leinster to decrease by 1% this year.

In 2023, land rental prices increased strongly in Munster (+23% for grazing only) and (+9% for cereal crops) with relatively minor changes for most land types in Leinster and Connacht/Ulster.

While price increases will continue to be driven by high demand and low supply, SCSI auctioneers and valuers say the rate of increase is moderating due to a number of factors including higher interest rates, poor weather conditions and lower farming returns. Teagasc is warning that the impact of the adverse weather on agricultural output, production costs and farm incomes, is a concern and presents an area of uncertainty for the current production year.

Key report findings include:  
  • National average farmland sales prices forecast to rise by 6% in 2024  
  • Average value of non-residential agricultural land in 2023 was €9,300 per acre, an increase of 11% on 2022 
  • In 2023 national average non-residential farmland prices ranged from €6,286 per acre for poor quality land to €12,308 for good land  
  • The most expensive land is in Waterford where good quality land on small holdings is fetching an average of €20,000 per acre  
  • The least expensive land is in Mayo where poor-quality land is selling for an average of €2,733 per acre on holdings over 100 acres 
  • Last year average land rental prices increased by 5%
  • SCSI agents expect average national rental prices to increase by 4% this year 
  • While agents say land prices will continue to rise, they expect the rate of increase to moderate this year due to lower returns and higher interest rates
  • While higher margins are forecast for dairy farmers, 2024 will prove very challenging for tillage farmers 

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NameCompanyCountyContact Details
David CostelloeCostelloe Estate AgentsClare06 56821299
Cianan DuffSavills Residential and Country AgencyDublin01 6181300
Philip GuckianSherry FitzGerald Country HomesDublin087 6608639
Liam BradyProperty Partners Garrett Loftus BallinaMayo096 22466
Ger CarmodyGer Carmody Auctioneer and Chartered SurveyorKerryinfo@gcauctioneers.ie
Lourda McGowanM.H. McGowan & CoLeitrim087 2054746
Cormac MeehanSean Meehan & Co.Donegal071 9841351
Philip ByrneCoonan PropertyKildare16286128
Rothwell StauntonRothwell Staunton & AssociatesGalway909642258
Brendan NaughtonOates AuctioneersRoscommon906627878
Paul StackSherry FitzGerald StackKerry & Limerick(0) 683 2087
Miah McGrathMcCarthy & McGrath LtdCork021 4631755
Anne CartonP N O'Gorman LtdWexford & Kilkenny051 421226
Paul McElhinneyREA McElhinneyDonegal074 9153414
Oliver FarrellFoley Auctioneers And Chartered SurveyorsMeath087 2525037
Margaret HartyHarty & CoWaterford087 2604482
Martin O'ConnorDNG Martin O'Connor Auctioneers & ValuersGalway091 866708
Peter MurtaghPeter Murtagh Chartered Surveyors Auctioneers & AgentsCavan042 966 5355
John DawsonREA DawsonCarlow059 9151142
Matthew ConryREA DawsonCarlow059 9151142
Thomas PottertonREA T E PottertonMeath046 9431391
Donagh DouganDougan FitzGerald auctioneersTipperary052 6121003
Ian McCarthyIndependent Property ConsultantNationwide086 2540227
Leo McCauleyMcCauley PropertiesDonegal086 2707281
Paul GaynorGaynor MillerLaois057 8678080
Matt DunneMatt Dunne & AssociatesLaois057 8623349
Denis O'RoarkeO'Roarke BrosWestmeath087 8240829.
Matthew RyanMatthew Ryan & SonTipperary
Thomas GaviganT & J GaviganMeath
Eoin DillonEoin Dillon & Associates Real Estate AllianceTipperary067 33468
John RadfordSherry FitzGerald RadfordWexford & New Ross
Dillon MurtaghMurtagh BrosWestmeath044 934 2512
Colum MurphyKehoe & Assoc., AuctioneersWexford053 9144393
Pat QuirkeP F Quirke & Co LtdClonmel052 612 1622
Celia LambWilsons Auctions Kingswood InterchangeDublin01 464 2800
Frank FlynnRobt. B. Daly & Son LtdDrogheda041 9838607
James LeeREA John LeeTipperary, Limerick, Clare061 378121
Kevin MillerGaynor MillerLaois057 8678080
Thomas CroninIrish and European Cork LtdCork021 4277606
Michael McKennaMichael Mckenna AuctioneerCork021 4279368
Niall GilliganNiall Gilligan AuctioneersClare06 1369700
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