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You are > Home > County second least expensive in country for buying land
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Wednesday, March 10, 2010
County second least expensive in country for buying land
COUNTY Roscommon is the second least expensive county in the country in which to buy land, after Leitrim.
Thats according to a recent land survey published by the Irish Farmers Journal.
There has been a huge drop in the volume of land offered for sale in county Roscommon in 2009. In 2008, 3,615 acres of land came to the market putting County Roscommon in the top six in terms of land offered.
The equivalent figure a year later was 1,231, a drop of a drop of 65%, which put Roscommon 15th on the list in terms of land offered for sale.
In addition to volume, price also took a major hit, with average values going from 10,746/acre in 2008 to 6,364/acre in 2009, a 40.8% price decrease.
This means that County Roscommon is the second least expensive county in the country in which to buy land, after Leitrim.
Prices ranged from 4,500 per acre for a small parcel of grazing ground to a top of almost 11,000 per acre, which was given for a prime-located parcel near a town.
Other sales included a 40 acre residential holding near Tulsk that sold for 7,300 per acre; a good quality fattening farm of over 40 acres that averaged 6,700 per acre; a sizeable holding in the east of the county that averaged just under 5,000 per acre and a small parcel of mixed quality land that averaged 5,000 per acre.
There was almost no price difference between big and small parcels. However, it is worth bearing in mind that almost two thirds of the farms in County Roscommon which came on the market were under 40 acres.
A 151 acre farm near Lanesboro was the only farm grater than 100 acres that came on the market. Four farms (13%) went to auction with just one selling under the hammer which made 7,300 per acre.
Agents said good quality land is making up to 8,500 per acre in County Roscommon but they warn that 10,000 per acre is difficult to achieve.
In neighbouring County Longford just six farms were offered for sale in 2009, incorporating 684 acres.
This is down 58% on the 1,632 acres that came to the market in 2008. The average price of land was 9,037/acre, representing a 34.8% price drop when compared to the 2008 average of 13,857/acre.
A 157-acre residential farm at Coolamber Manor, Lisryan, County Longford was brought to the market by private treaty with a guide price of 1.8 million.
The information contained in the Irish Farmers Journal report was taken from all 26 counties incorporating a total of 875 farms.
It provides a realistic price comparison across the entire country on a county-by-county basis.
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