AUCTIONEERS and valuers say the outlook for the agricultural land market remains strong for 2025 and are forecasting that the price of agricultural land nationally will increase by 6% on average this year.
In a major new report with Teagasc, 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 2025 are expected to increase by 7%.
In Munster, average rental prices are expected to rise by 8% while in Leinster and Connacht/Ulster an increase of 7% is forecast.
They expect land values to rise again primarily due to better milk prices, strong competition among farmers and investors and recent changes to Ireland’s Nitrates Action Programme.
Due to the latter, some farmers require more land to meet lower stocking rate thresholds, which further increases the demand, especially among dairy farmers in Ireland.
According to the report, the Central Statistics Office data shows that the share of agricultural land, which transacts for sale annually is only around 0.5% of agricultural area and this, combined with strong demand for agricultural land is driving the increase in land prices.
This year’s annual survey, the twelfth in the series, provides a county-by-county breakdown of the prices of good and poor-quality land.
The survey found that on holdings under 50 acres the price of an acre of good quality land in Cork was €17,875 up from €15,667 in 2023.
This was the second highest in Munster, just ahead of Tipperary and the third highest in the country, up from sixth last year.
The survey found the most expensive land in the country last year was in Waterford with good quality land on holdings between 50 and 100 acres fetching an average sales price of €23,500 per acre.
Mayo has the lowest land sales prices in the country at €3,075 for an acre of poor-quality land on holdings over 100 acres.
Waterford, also has the most expensive land on holdings under 50 acres at €23,000 per acre, followed by Kildare on €18,680, with Cork in third place at €17,875, just marginally ahead of Tipperary on €17,865.
In Carlow, the average price of good quality land on holdings of less than 50 acres is €17,417 per acre, while rounding off the top six places is Meath on €16,890.
In Munster, sales prices for good quality land on holdings under 50 acres range from €23,000 in Waterford to €9,875 in Clare.
Prices for poor quality land ranged from an average of €8,750 in Waterford to €6,100 in Kerry.
The price of an acre of poor-quality land in Cork on a small holding was €7,650 up from €7,000 in 2023.
Meanwhile the price of an acre of good land in Cork on holdings between 50 to 100 acres last year was €18,200 – up from €16,333 in 2023 - while the price of an acre of good land on holdings over 100 acres was €14,100. The corresponding prices for an acre of poor land were €8,040 and €7,450.
In Leinster, sales prices for good land in 2024 on holdings of less than 50 acres range from Kildare’s high of €18,680 - up from €16,400 the previous year – to €12,042 in Offaly, while the prices for poor-quality land range from a high of €10,200 in Kildare to €6,500 in Longford.
In Connacht/Ulster, sales prices for good land on holdings under 50 acres ranged from an average of €13,280 per acre in Donegal – down slightly on last year – to €7,625 in Leitrim.
Prices for poor quality land ranged from an average of €6,500 in Cavan to €3,792 per acre in Leitrim, the lowest price in the country for holdings under 50 acres.
In Munster, there was a mixed trend in year-on-year land rental prices. Average rental prices for grazing and meadowing /silage declined from between 3% and 5% and now stand between €284 per acre and €294 per acre.
Conversely, land rental prices for other crops such as maize and beans rose by 8% on average indicating a steady demand for animal feed crop growing.
By contrast Connacht/Ulster saw the highest provincial rental price inflation across grazing/silage and grazing-only lands, 14% and 13% respectively with the average price of the former reaching €208 per acre and the latter reaching €177 per acre.
In Leinster (excluding Dublin), land rental prices for grazing/meadowing/silage, grazing only and potato growing all increased by 9% on average to €295, €271 and €467 per acre respectively.
The rental price of land for cereal crops increased by 8% to €317 per acre while rent for land rental prices for other crops such as maize and beans, increased by just 2% to €351 per acre.
The survey of 169 auctioneers and valuers from all over the country, took place in February and March 2025.
It found the volume of farmland going to market increased marginally during 2024 with probate sales continuing to provide the main source of farmland sales.
The full SCSI/Teagasc Agricultural Land Market Review and Outlook Report 2025 is available at scsi.ie/land.
Average agricultural land values per acre in 2024 - counties in Munster.
