The value of prime grassland in Ireland has grown by 10.6% in 2022 reaching an average price of €12,170/ac, according to Sherry Fitzgerald.
This is up from €11,000/ac and 7.6% growth seen in 2021, the Agricultural Land Review 2022 published today (Wednesday, February 8) shows.
The southwest region saw the most significant price increase at 17%, followed by the midlands (+13.8%); the mid-west (+10.7%); and the west (+10.3%).
Prime grassland prices were up by 4% in the border region, which is a substantial decrease from the 17% growth seen over 2021, figures show.
Across Ireland prices rose by 2.4% in the fourth quarter (Q4) last year, which is an increase from the 1.7% growth seen over the same three-month period in 2021.
The most expensive region in Q4 for prime grassland was the southeast with a price of €13,645/ac.
The largest growth in grassland prices was experienced in the midlands at 4.8%, ahead of the mid-east (+3.8%); the southeast (+3.5%); and the mid-west (+2.8%).
Prices in the west and border regions did not change, while the southwest region saw grassland prices drop by 0.7%, according to Sherry Fitzgerald.
Prices of marginal grassland also experienced significant growth throughout both Q4 and annually, rising by 3.5% and 11.1% respectively, to an average price of €7,430/ac in 2022.
Farmland
Land values in Ireland grew by 11.5% last year with a 2.9% increase seen in Q4 and an average price of farmland nationally, excluding Dublin, at approximately €10,850/ac.
The midlands experienced the biggest increase in agricultural prices at 21.9%, followed by the southwest (+16.6%); the mid-west (+12.9%); and the mid-east (+11.1%).
The most expensive region for agricultural land at the end of 2022 was the mid-east, with a price of €12,667/ac, up from a price of €11,400/ac in 2021.
The west remains the least expensive region with a price of €6,634/ac, according to Sherry Fitzgerald’s Agricultural Land Review 2022.