Connect with us

News

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

Published

on

0256509_Ted_Healy_1000x600.jpg

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.

Advertisement

News

HeartBeat to host Advanced Healthcare Directive information night

Anne O’Shea Clarke, Regional Manager of SAGE Advocacy Mid & South West Regions, will provide a comprehensive explanation of the process involved in properly creating an Advanced Healthcare Directive (AHD) […]

Published

on

Anne O’Shea Clarke, Regional Manager of SAGE Advocacy Mid & South West Regions, will provide a comprehensive explanation of the process involved in properly creating an Advanced Healthcare Directive (AHD) on Tuesday, April 29, starting at 8pm in the Parish Centre, Park Road.

An ADH is a document which sets out your instructions in relation to healthcare treatments in the future, when you no longer have the capacity to decide. AHDs are not solely relevant to older individuals. Young adults can also significantly benefit from putting these directives in place for themselves or when assisting loved ones. Attendees will gain valuable ‘Knowledge is Power; regarding legal and personal matters
The meeting will specifically look at two key application forms: the standard AHD Form and the Think Ahead / my form.
Prior to the main meeting, a Blood Pressure. and Pulse Clinic will be available from 7:15pm until 8:00pm sharp. Following O’Shea Clarke’s presentation, there will be a Question & Answer session, followed by tea and coffee.
SAGE Advocacy, the national service for older people, works to ensure access to information, support, and independent advocacy, while also providing safeguarding services across various settings, including homes, day centres, hospitals, and nursing homes.
They also support vulnerable adults and healthcare patients in situations where other services may not be available.
For further information, email anne.osheaclarke@sageadvocacy.ie or visit www.sageadvocacy.ie.

Continue Reading

News

Singer-songwriter Lillie Foley releases second single

Local singer-songwriter Lillie Foley, from Whitebridge Manor, has released her second single of 2025, titled ‘That’s Life’, on all major streaming platforms. ‘That’s Life’ is described as a powerful blend […]

Published

on

Local singer-songwriter Lillie Foley, from Whitebridge Manor, has released her second single of 2025, titled ‘That’s Life’, on all major streaming platforms.

‘That’s Life’ is described as a powerful blend of pop and soul music, drawing on Foley’s own life experiences. The track marks a further step in the promising career of the emerging local artist.
Recorded at the renowned Windmill Lane Recording Studios in Dublin, ‘That’s Life’ showcases Foley’s emotive lyrics, soulful vocals, and a sound that is both modern and deeply personal. Collaborating with music producer and audio engineer Hermann Ogulla, Foley has crafted a song that blends her Irish background with contemporary musical styles, aiming to resonate with listeners in Ireland,and beyond.
Foley said: “This is a song about resilience and accepting that bad things happen in life and we just have to get on with it and move on as best we can.”
‘That’s Life’ is the second of several songs Foley has planned for release in 2025.

Continue Reading