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24/10/2021

Revealed: Major increase in the price of farmland in Donegal

Price hike is due to small number of farms that were sold

Revealed: Major increase in the price of farmland in Donegal

Farmland prices in Donegal have more than doubled over the past two years, according to a major survey published today.

Each year the Irish Farmers’ Journal carries out an in-depth review of the average price of farmland in each county.

In recent years, Donegal has also sat mid-table or a little under it on prices. However, because of the quirks of 2020, the average farmland price increased to a massive €17,716/ac – this compares with €6,089/ac in 2019 and €7,688/ac in 2018. The jump in average price was because of the limited number of farms put up for sale.

Despite the pandemic, 2020 was a good year for selling land with the average price of farmland up 15% nationally according to the Irish Farmers Journal’s annual 72-page county by county land price report which is published today.

The average price of agricultural land rose by a huge 15% to reach €10,316/ac – up from €8,971/ac in 2019. 

Significantly, this is the highest average land price figure recorded since the financial crash of 2008 albeit the number of acres of farmland offered for sale fell by 25.4% due to Covid-19.

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