Land prices in Co Carlow are the second most expensive in Leinster

CO Carlow has the second most expensive land in Leinster – up from third last year – at €17,417 an acre, with prices set to increase further. That’s the finding of a major report from Teagasc, together with auctioneer and valuer members of the Society of Chartered Surveyors Ireland (SCSI).

SCSI auctioneers and valuers say the outlook for the agricultural land market remains strong for 2025 and are forecasting that the price of agricultural land nationally will increase by 6% on average this year. The survey also predicts that average rental prices in 2025 are expected to increase by 7%.

The survey found that on holdings under 50 acres, Carlow had the second most expensive land in Leinster – up from third last year – at €17,417 per acre.

The survey found that the most expensive land in the country last year was in Waterford, with good-quality land on holdings between 50 and 100 acres fetching an average sales price of €23,500 per acre. Waterford also has the most expensive land on holdings under 50 acres at €23,000 per acre of good-quality land, with Co Carlow fifth on €17,417.

The price of an acre of poor-quality land in Carlow was €9,100 – up from €8,625 in 2023.

Meanwhile, the price of an acre of good land in Carlow on holdings between 50 to 100 acres last year was €18,300 – up from €16,250 in 2023 – while the price of an acre of good land on holdings over 100 acres was €16,160. The corresponding prices for an acre of poor land were €8,400 and €7,800.

Auctioneer John Dawson of REA Dawson in Tullow, who is a member of the SCSI’s Rural Agency Committee, says land prices are being driven by a continued low supply to the market and demand across major sectors for agricultural outputs, including a thriving dairy sector.

“Dairy farms are projected to have a robust 2025 and will continue to significantly influence the demand for both owned and leased land. Over three-quarter of respondents to our survey (77%) ranked dairy farmers as the main buyer-type of agricultural land. In addition, 62% of respondents expect an increase in demand from dairy farmers in 2025, with just 2% of respondents expecting this demand from dairy farmers to decrease,” said John.

“But several other factors are supporting the positive outlook. After a poor start, last year’s weather improved, and as a result crop yields performed better than expected. We have also seen a marked reduction in interest rates, which, of course, means lower finance costs.

“That said, uncertainty in the global economy, along with recently imposed US tariffs on EU agricultural products, are casting a long shadow. While it’s impossible to predict the outcome and potential impact, it’s clear these factors could introduce volatility into the land market and may temper some of the upward price momentum.” 

Mr Dawson said one noticeable trend survey respondents picked up on is a significant landowner shift towards long-term leasing over short-term rentals.

“As the market continues to evolve, we believe long-term leasing will remain the preferred model, supported by government policies that encourage security of tenure and investment in land productivity. As a result, nearly 84% of survey respondents noted that farmers would typically pay more per acre for similar-quality land on a long-term lease compared to conacre.” 

The full report is available at https://scsi.ie/land.