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## Summary of Agricultural Land Prices in 2015

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National Indicators by Year

In 2015, there was 51,544 acres of agricultural land sold in Ireland for a total value of €304.5 million at a median price1 of €6,615.

The mean price1 in 2015 was €5,907 per acre with an mean transaction size of 20.6 acres.

 It should be noted that median and mean prices are not appropriate for measuring the evolution of land prices as the mix of agricultural land sold in different periods can change over time.

1 - The median price is the value directly in the middle when the transactions are sorted in order of price per acre. That is to say that half of the transactions are above the median price and half of the transactions are below it. The mean price is calculated by taking the total money spent on agricultural land in the year divided by the total area of land sold. The advantage of taking the median price over the mean price is that it is not skewed by extremely large or small values and therefore gives a better idea of the typical value.

 Table 1.1 - National Indicators by Year Median Price in Ireland Mean Price in Ireland No. of Transactions of Agricultural Land in Ireland Volume of Transactions of Agricultural Land in Ireland Value of Transactions of Agricultural Land in Ireland Year € / ac € / ac Acres € million 2013 6,953 6,741 3,005 51,857 349.576 2014 6,760 6,594 3,097 56,273 371.060 2015 6,615 5,907 2,500 51,544 304.493

National Indicators by Land Type

Using information from the CSO's Farm Structure Survey, it is possible to assign a land type to the transaction based on the Census of Agriculture Small Area in which the transaction occurs. (See background notes for more information.)

As shown in Figure 1.1, Figure 1.2 and Table 1.2, there is a large difference in the price of arable land and permanent grassland in Ireland. Arable land made up 5.87% of the total agricultural land sold in Ireland, however, it accounted for 9.86% of the total value of agricultural land sold.

In 2015, the median price for arable land was €10,026 per acre while the median price for permanent grassland was €6,378 per acre.

X-axis label % 94.13 5.87
X-axis label % 90.137375900267 9.862624099733
 Table 1.2 - National Indicators by Year and Land Type Median Price in Ireland Mean Price in Ireland No. of Transactions of Agricultural Land in Ireland Volume of Transactions of Agricultural Land in Ireland Value of Transactions of Agricultural Land in Ireland Land Description Year € / ac € / ac Acres € million Arable Land 2013 10,018 10,492 186 3,209 33.671 2014 10,511 10,598 194 4,315 45.732 2015 10,026 9,933 155 3,023 30.031 Permanent Grassland 2013 6,667 6,494 2819 48,648 315.905 2014 6,551 6,261 2903 51,958 325.327 2015 6,378 5,657 2345 48,520 274.462

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