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Cost of agricultural land set to increase by 8% this year

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2 years ago

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By Ted Healy of DNG TED HEALY

The results of a survey on agricultural land values conducted by the Society of Chartered Surveyors Ireland (SCSI) was published earlier this week.

It predicts an increase in land values by an average of 8% this year and an increase of 14% on average in rental values.

The report titled, 'SCSI/Teagasc Agricultural Land Market Review & Outlook Report 2023', analyses the agri sector performance over the past year and projects how it will perform over the next 12 months.

In all 134 agri professionals and valuers were surveyed, who expect the outlook for dairy farmers to ease and a challenging future for sheep and tillage farming.

Rental Land values in Munster increased by an average of 13% in the last year with a 9% increase experienced in Leinster.

The report indicates that the average non-residential farmland prices in 2022 ranged from €5,564 per acre for poor quality land – up five percent from €5,308 in 2021 – to €11,172 per acre for good quality land – up two percent from €10,962 the previous year. Strong demand from dairy farmers for good quality land is driving the market.

The majority of those surveyed believe there is likely to be an increase in demand from dairy farmers to purchase farmland in 2023.

One point to note however, is that changes to the European Nitrates Directive, particularly measures aimed at protecting water quality, may have an impact on land prices, especially rental prices.

In order to maintain current levels of milk production – and to comply with the directive – many dairy farms will need to either increase their land area or reduce milk production.

The Residential Zoned Land Tax (RZLT) is also coming down the line at an alarming rate, farmers have until May 1 to make a written appeal. Under the new legislation farmers owning currently zoned land face an annual tax bill of 3% of the market value of their zoned land.

This will result in countless numbers of landowners facing crippling tax bills from next year on. It is expected that this new tax may bring forward extra land sales later this year before the tax takes hold.

The IFA (Irish Farmers Association) have this week sought a senior counsel review of the legislation governing the Residential Zoned Land Tax.

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Killarney Cardiac Response Unit to host CPR Training

Killarney Cardiac Response Unit is hosting a public Cardiopulmonary Resuscitation (CPR) training event in the Gleneagle Hotel on Thursday, March 20. The event will take place in the Gleneagle Ballroom […]

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8 hours ago

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15 March 2025

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Killarney Cardiac Response Unit is hosting a public Cardiopulmonary Resuscitation (CPR) training event in the Gleneagle Hotel on Thursday, March 20.

The event will take place in the Gleneagle Ballroom from 4:00pm to 6:00pm.

“You can register online for our Hands for Life training course or just drop in where you can learn the simple steps to save a life,” said Kevin O’Leary.
The CPR training is free to attend.

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Expert to guide parents on navigating the Digital Age

Renowned family psychologist Dr Richard Hogan will address the challenges of parenting in the digital age at a talk in Killarney. Organised by the Gaelscoil Faithleann Parents Council, the event […]

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9 hours ago

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15 March 2025

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Renowned family psychologist Dr Richard Hogan will address the challenges of parenting in the digital age at a talk in Killarney.

Organised by the Gaelscoil Faithleann Parents Council, the event will take place at the Killarney Plaza Hotel on Thursday, March 20 at 7pm.
Dr Hogan will offer practical advice and insights on managing screen time, promoting healthy digital habits, and fostering strong communication with tech-savvy children. The talk is open to all parents of primary and secondary school children.
Dr Hogan said: “I am really looking forward to meeting everyone in Killarney and I will discuss how to develop a harmonious home with that tech savvy child. It’s the issue facing all parents and everything I look at is based on my own experience as a parent, and from my work in schools over 25 years. This event in Killarney will be very open and we can interact with each other and people can ask me any questions they wish.”
Mary Carroll, Chairperson of the Gaelscoil Faithleann Parents Council, said: “We were looking for a guest speaker who would really inform parents on the issues affecting them today and we are delighted that we could organise Dr Richard Hogan to come to Killarney. His work in the media is followed by many, and his advice is practical and relevant for parents today. He will provide practical tips for addressing the challenges of social media, gaming, and technology use in everyday family life.”
This event is open to all parents in all schools, and we welcome everyone to attend. Places are limited so make sure to book in advance on bit.ly/richardhogan to secure a seat.”
Mary Carroll added:, “The number one issue for all parents at the moment, is how to manage screentime in this new digital age, and this is an opportunity to hear from an expert and ask any questions that you have. We will provide the facility to ask questions anonymously by having a question box, which Dr Hogan will go through and answer during his presentation.”
Tickets are €10 and can be booked at bit.ly/richardhogan or paid for in cash at the door.

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