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The beautiful 224ac farm at Rathcoffey Castle was guided for €2m and experienced brisk bidding before being knocked down at a price closer to €3m.
Overall agricultural land values decreased by 0.2% in 2020, according to the Sherry FitzGerald agricultural land barometer, which pools sale results from the group’s almost-100 offices.
The first quarter saw prices back slightly but the group experienced strong growth later in the year.
A combination of deflationary pressures stemming from 2019 saw values decline in the opening part of the year before COVID-19 further restricted market activity.
The easing of restrictions later in the year saw values increased by 1% in the fourth quarter, this was the strongest rate of quarterly growth since 2015.
Drumman House and Lodge, Duleek, Co Meath.
While areas of the economy have struggled in the past year, associate director of Sherry Fitzgerald Philip Guckian says that the country market has shown resilience during the pandemic.
With a shift in employment trends such as remote working, Philip explains that the property market has seen a significant number of people moving away from cities.
“There has been a clear desire for more space and greenery,” he explains.
“What we are seeing is far more than a COVID-induced fad and instead a real lifestyle movement towards rural living.
“People want more space and more privacy,” he continued.
A strong finish to 2020 somewhat redeemed a difficult year for land sales, according to the latest Sherry FitzGerald Agricultural Land Barometer. Figures from their agents nationwide indicate an average per acre price of €8,850/ac, down 0.2pc on 2019.