Agricultural land prices fell by 10% in Ireland last year

Meanwhile, the gap between property prices in Dublin and the rest of the country is back at boom levels

Agricultural land prices fell by 10% in Ireland last year

Julien Behal / PA

The average price of agricultural land fell by 10% last year to just under €9,000 an acre, according to the Farmers Journal Land Price Report, published this morning.

The research found that farmers continue to be the principal buyers of land and their purchasing power has been affected by lower dairy and other commodity prices and by more difficult access to loan finance.

Kildare, recorded the highest average price at €13,900 per acre, while other higher than average counties included Dublin, Meath and Wexford.

Meanwhile, research from the ESRI shows that the price difference between houses in Dublin and outside the capital is back to the levels seen during the boom.

The study found that despite high demand for homes in Dublin, there is still a lack of supply.

Prices in Dublin, the commuter counties, Cork and Galway have increased by more than 30 percent, while elsewhere, they've gone up by less than 10 percent.

Origin

The challenges in the agricultural sector are highlighted this morning also by half year results from agri-services group, Origin Enterprises.

This is the seasonally less busy period for the company but it generated losses of just over €4m in the six months to January compared to profits of over €7m at the same stage last year.