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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| Name | Company | County | Contact Details |
|---|---|---|---|
| Anne Carton | P N O'Gorman Ltd | Wexford, Kilkenny, | 051 421226 |
| Brendan Naughton | Oates Auctioneers | Roscommon | 906627878 |
| Celia Lamb | Wilsons Auctions Kingswood Interchange | Dublin | 01 464 2800 |
| Cianan Duff | Savills Residential and Country Agency | Dublin | 01 6181300 |
| Colum Murphy | Kehoe & Assoc., Auctioneers | Wexford | 053 9144393 |
| Cormac Meehan | Sean Meehan & Co. | Donegal | 071 9841351 |
| David Costelloe | Costelloe Estate Agents | Clare | 06 56821299 |
| Denis O'Roarke | O'Roarke Bros | Westmeath | 087 8240829. |
| Dillon Murtagh | Murtagh Bros | Westmeath | 044 934 2512 |
| Donagh Dougan | Dougan FitzGerald auctioneers | Tipperary | 052 6121003 |
| Eamonn A Spratt | Edmond Spratt & Son Ltd. | Waterford | 05842211 |
| Eoin Dillon | Eoin Dillon & Associates Real Estate Alliance | Tipperary | 067 33468 |
| Frank Flynn | Robt. B. Daly & Son Ltd | Drogheda | 041 9838607 |
| Ger Carmody | Ger Carmody Auctioneer and Chartered Surveyor | Kerry | info@gcauctioneers.ie |
| Ian McCarthy | Independent Property Consultant | Nationwide | 086 2540227 |
| James Lee | REA John Lee | Tipperary, Limerick, Clare | 061 378121 |
| John Dawson | REA Dawson | Carlow | 059 9151142 |
| John Radford | Sherry FitzGerald Radford | Wexford | john@radfordauctioneers.com |
| John Stokes | REA Stokes & Quirke | Tipperary | 052 6121788 |
| Kevin Miller | Gaynor Miller | Laois | 057 8678080 |
| Leo McCauley | McCauley Properties | Donegal | 086 2707281 |
| Liam Brady | Property Partners Garrett Loftus Ballina | Mayo | 096 22466 |
| Lourda McGowan | M.H. McGowan & Co | Leitrim | 087 2054746 |
| Margaret Harty | Harty & Co | Waterford | 087 2604482 |
| Martin O'Connor | DNG Martin O'Connor Auctioneers & Valuers | Galway | 091 866708 |
| Matt Dunne | Matt Dunne & Associates | Laois | 057 8623349 |
| Matthew Conry | REA Dawson | Carlow | 059 9151142 |
| Matthew Ryan | Matthew Ryan & Son | Tipperary | ryanmat63@gmail.com |
| Miah McGrath | McCarthy & McGrath Ltd | Cork | 021 4631755 |
| Michael McKenna | Michael Mckenna Auctioneer | Cork | 021 4279368 |
| Niall Gilligan | Niall Gilligan Auctioneers | Clare | 06 1369700 |
| Oliver Farrell | Foley Auctioneers And Chartered Surveyors | Meath | 087 2525037 |
| Pat Quirke | P F Quirke & Co Ltd | Clonmel | 052 612 1622 |
| Paul Gaynor | Gaynor Miller | Laois | 057 8678080 |
| Paul McElhinney | REA McElhinney | Donegal | 074 9153414 |
| Paul Stack | Sherry FitzGerald Stack | Kerry, Limerick, | (0) 683 2087 |
| Peter Murtagh | Peter Murtagh Chartered Surveyors Auctioneers & Agents | Cavan | 042 966 5355 |
| Philip Byrne | Coonan Property | Kildare | 16286128 |
| Philip Guckian | Sherry FitzGerald Country Homes | Dublin | 087 6608639 |
| Rothwell Staunton | Rothwell Staunton & Associates | Galway | 909642258 |
| Seamus Carthy | REA Seamus Carthy | Roscommon | 090 6630001 |
| Thomas Cronin | Irish and European Cork Ltd | Cork | 021 4277606 |
| Thomas Gavigan | T & J Gavigan | Meath | tom@tjgavigan.ie |
| Thomas Potterton | REA T E Potterton | Meath | 046 9431391 |