Reduction in available farm land
In reviewing the first half of 2017 sales, the prevailing trend is that the volume of farm lands available has reduced significantly as compares to the same period in 2016 and demand for well located rural building sites is boosting prices.
Garry Best, MD of Best Property Services said: “In terms of land sales - prices remain strong due to short supply and a case in point is a recent sale of a 15 acre holding in Hilltown which exceeded £15,000 per acre.”
In the Armagh area, a larger sale in the Keady locality changed hands at around £12,000 per acre.
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Hide AdMr Best said: “This year we’ve seen a huge jump in demand for building sites in well located rural areas and reaching up to £65,000 for 0.9 acre site.
“Looking back to comparable sites three years ago a similar site would have struggled to reach £50,000.
“In the first half of 2016, we managed the sale of three holdings in the Mayobridge area varying in size from 11–14 acres, all with building sites. “