Agricultural land prices rose by 5.2% to €9,890 per acre during the past 12 months, a new report reveals.
The annual Irish Farmers Journal Land Report showed that over 86,000 acres were offered for sale in 2014.
This was the highest such figure in the eight year history of the report and was up 15.4% year on year.
The report said that prices were mainly driven by transactions for agricultural use, but last year also saw big increases in some areas driven by demand for land with development potential.
In Dublin, for example, the average price was up by almost 46% to an average of €23,496 per acre with a number of farms close to commuter regions selling for inflated prices.
Land in Wicklow was priced at over €16,000 per acre, while Kilkenny land was for sale at €14,833 per acre.
The report noted that Leitrim had the lowest average price for land at €4,047, followed by Sligo (€4,985) and Mayo (€5,715).
It also said that Donegal had the highest percentage price decrease at 26%, followed by Westmeath at 16.5% and Sligo at 15.2%.
In contrast, Wicklow had the highest percentage price increase at 56.3%, followed by Dublin at 45.8% and Kilkenny at 34.1%.
The report also looks at land prices in Northern Ireland and it said that the average price paid for farm land there rose by 6% to £9,256 (€12,508) per acre.
A total of 5,786 acres of farm land were sold in the North last year, a big drop on the 8.236 acres sold in 2013.
The annual Irish Farmers Journal Land Report showed that over 86,000 acres were offered for sale in 2014.
This was the highest such figure in the eight year history of the report and was up 15.4% year on year.
The report said that prices were mainly driven by transactions for agricultural use, but last year also saw big increases in some areas driven by demand for land with development potential.
In Dublin, for example, the average price was up by almost 46% to an average of €23,496 per acre with a number of farms close to commuter regions selling for inflated prices.
Land in Wicklow was priced at over €16,000 per acre, while Kilkenny land was for sale at €14,833 per acre.
The report noted that Leitrim had the lowest average price for land at €4,047, followed by Sligo (€4,985) and Mayo (€5,715).
It also said that Donegal had the highest percentage price decrease at 26%, followed by Westmeath at 16.5% and Sligo at 15.2%.
In contrast, Wicklow had the highest percentage price increase at 56.3%, followed by Dublin at 45.8% and Kilkenny at 34.1%.
The report also looks at land prices in Northern Ireland and it said that the average price paid for farm land there rose by 6% to £9,256 (€12,508) per acre.
A total of 5,786 acres of farm land were sold in the North last year, a big drop on the 8.236 acres sold in 2013.
