This release is categorised as a CSO Frontier Series Output. Particular care must be taken when interpreting the statistics in this release as it may use new methods which are under development and/or data sources which may be incomplete, for example new administrative data sources.
This release presents estimates of Residentially Zoned Land prices per acre at State and regional level. In interpretation of these figures, allowance should be made for the fact that only a small amount of Residentially Zoned Land is sold each year. In addition to this, certain Residentially Zoned Land transfers are excluded from the data (See Exclusions for more information).
Administrative data from the Revenue Commissioner’s Stamp Duty Returns is used to calculate the median and mean price of land sold. To determine the type of land sold, data matching is carried out using the Stamp Duty Return (SDR) data, Property Registration Authority of Ireland (PRAI) data and the MyPlan.ie data.
The stamp certificate number is used to match the SDR data to the PRAI data to acquire the X and Y co-ordinates and the area of the land. The XY co-ordinates are used to match to the MyPlan.ie data to define the zoning of the land sold.
As the statistics relate to the land sold purely for residentially zoned use, the following transactions are excluded from the statistics:
The value and volume of transactions in this release do not include all Residentially Zoned Land sales. Only transactions where the land area could be verified at the time of sale are included. Verification rates are higher in recent years compared with earlier ones. As a result, comparisons across years, such as the number of transactions, total land area sold, and overall value, are not reliable, since differences are largely driven by the ability to verify land area.
MyPlan.ie does not include up-to-date zoning plans for all 31 local authorities. Where updated plans were unavailable, the most recent expired plans were used instead. This may have led to the exclusion of some transactions involving Residentially Zoned Land if zoning designations had changed between plan versions.
At the time of analysis:
These gaps in zoning data may affect the completeness and accuracy of the analysis.
Median Price per Acre: Median price is the value directly in the middle when the transactions are sorted in order of price per acre. By taking the median price, the final figure is less susceptible to being skewed in one direction or another by extremely large or extremely small values, giving a better idea of the typical price of one acre of Residentially Zoned Land in Ireland.
Mean Price per Acre: The mean price per acre is calculated by dividing the total value of the land sold in each region by the total volume of the land sold in each region.
Value of Land Sold: The total amount of money spent on purchases of Residentially Zoned Land where the land area could be verified.
Volume of Land Sold: The total area of Residentially Zoned Land sold where the land area could be verified.
Commonage: Commonage is defined as land in which multiple tenants hold an undivided share in the property and have a distinct and separate interest in that property. The land is not physically divided so no one person owns a particular part of the property. That is to say, it is communally owned and operated, and third parties must treat the co-owners as a single unit for transactions in respect of the land. Commonage land transactions are not included in the figures.
The regional classifications in this release are based on the NUTS (Nomenclature of Territorial Units) as set in the Commission Regulation (EU) 2016/2066. The NUTS3 regions correspond to the eight Regional Authorities established under the 2014 Local Government Act (Regional Authorities). The composition of the regions is set out below:
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