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The Agricultural Land Prices methodology has been updated in this release. More information can be found here: Agricultural Land Prices - Information Note. To ensure comparability between previous years' data, all previous year's land price and volume indicators have been revised. |
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In 2020, there was 29,031 acres of agricultural land sold in Ireland for a total value of €176.1 million at a median price1 of €6,992. This volume of agricultural land sold represented 0.25% of all the available agricultural land in Ireland and a 53% decrease in the overall volume of land sold when compared with 2019.
The mean price1 in 2020 was €6,066 per acre with a mean transaction size of 18.1 acres.
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It should be noted that median and mean prices are not appropriate for measuring the evolution of land prices as the mix of agricultural land sold in different periods can change over time. |
1 - The median price is the middle value when the transactions are sorted in order of price per acre. That is to say that half of the transactions are above the median price and half of the transactions are below it. The mean price is calculated by taking the total money spent on agricultural land in the year divided by the total area of land sold. The advantage of taking the median price over the mean price is that it is not skewed by extremely large or small values and therefore gives a better idea of the typical value. Further information on the CSO's use of median and means can be found here.
| Table 1.1 - National Indicators by Year | |||||
| Median Price in Ireland | Average Price (€ / ac) in Ireland | No. of Transactions of Agricultural Land in Ireland | Volume of Transactions of Agricultural Land in Ireland | Value of Transactions of Agricultural Land in Ireland | |
| Year | € / ac | € / ac | Acres | € Million | |
| 2018 | 6,951 | 6,455 | 3,050 | 55,145 | 355.950 |
| 2019 | 6,906 | 6,267 | 3,289 | 61,997 | 388.559 |
| 2020 | 6,992 | 6,066 | 1,602 | 29,031 | 176.092 |
Using information from the CSO's Census of Agriculture, it is possible to assign a land type to the transaction based on the Census of Agriculture Small Area in which the transaction occurs. (See background notes for more information.)
As shown in Figure 1.1, Figure 1.2 and Table 1.2, there is a large difference in the price of arable land and permanent grassland in Ireland. Arable land made up 4.7% of the total agricultural land sold in Ireland, however, it accounted for 7.95% of the total value of agricultural land sold.
In 2020, the median price for arable land was €10,338 per acre while the median price for permanent grassland was €6,791 per acre.
| X-axis label | % | Percentage of Total Land Sold by Land Type |
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| Permanent Grassland | 95.3 |
| Arable Land | 4.7 |
| X-axis label | % | Percentage of Total Land Sold by Land Type |
|---|---|
| Permanent Grassland | 92.05 |
| Arable Land | 7.95 |
| Table 1.2 - National Indicators by Year and Land Type | ||||||
| Median Price in Ireland | Average Price in Ireland | No. of Transactions of Agricultural Land in Ireland | Volume of Transactions of Agricultural Land in Ireland | Value of Transactions of Agricultural Land in Ireland | ||
| Land Description | Year | € / ac | € / ac | Acres | € Million | |
| Arable Land | 2018 | 11,896 | 12,866 | 164 | 3,642 | 46.853 |
| 2019 | 11,241 | 11,402 | 153 | 3,107 | 35.428 | |
| 2020 | 10,338 | 10,256 | 88 | 1,366 | 14.007 | |
| Permanent Grassland | 2018 | 6,670 | 6,002 | 2886 | 51,503 | 309.097 |
| 2019 | 6,686 | 5,996 | 3136 | 58,890 | 353.131 | |
| 2020 | 6,791 | 5,859 | 1514 | 27,665 | 162.085 | |
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