Irish Independent and Farmers Journal Farming Property Sections

easydosh

Hi all,

I was just wondering if the prices published in the farming sections of the irish independent and farmers journal each week for agricultural land truly reflect the market ie national average per acre.??

I am asking this question because many of the auctioneers i have dealt with recently regarding house prices were still in a boom mindset and secondly because A colleague of mine bought a house for a fraction of the guide price in a national newspaper to his surprise !!

From following recent prop agri articles in these papers, it seems that a large proportion of these holdings are making in excess of 10000euro an acre.

Basically does the irish Indo and the Farmers Journal, Just show the high end agri properties on the market in different areas giving little regard for the lesser holdings in similar areas??

Sorry if these question appears in any way absurd!!!!!!

viztopia

Very good question and I often wonder this myself. Sometims I think that the property reports in the newspapers are nearly like advertisments for the auctioneers and will only report the good sales eg auctioneer abc sold 2010 acres for €10,000 an acre. Who would you go to then if you were selling?

Muckit

Mart reports, pedigree bull sales. Same story. You only hear about the crem de la creme, which might only represent 5-10% of what was sold.

Reading reports after actually going to the real thing, you'd wonder were you and the reporter at the same sale!!

easydosh

thanks for replies
Just that some of the published articles v. often show a farm before its sold and afterwards reporting on the sale and how it made €X over its guide price!!

keep going

ah easydosh still trying to make up your mind about that nice tax free investment and cash in on the next boom that is farming now that you cant buy an old section 23 apartment anymore:rolleyes:

Ding Dong

the property sections in the times and indo are still in the same mindset that helped prop up an unsustainable property market. You will notice that every house 'review' is actually a ringing endorsment. An advertorial if you will. I have seen some awful dumps advertised but the headline above it made it sound as if you could be buying into the most fun-filled estate in the country. Health, Motoring, Travel sections often review their subjects, not just slap a huge ringing endorsement on it. I think its wrong and very irresponsible on behalf of the editors. They should rename it the Estate Agents Advertisment pull-out as opposed to the Property Section. sorry for rant btw..... :rolleyes:

easydosh

i completely agree it goes beyond a joke as to how they are still getting away with this IMO!!

irishh_bob

easydosh wrote: »

Hi all,

I was just wondering if the prices published in the farming sections of the irish independent and farmers journal each week for agricultural land truly reflect the market ie national average per acre.??

I am asking this question because many of the auctioneers i have dealt with recently regarding house prices were still in a boom mindset and secondly because A colleague of mine bought a house for a fraction of the guide price in a national newspaper to his surprise !!

From following recent prop agri articles in these papers, it seems that a large proportion of these holdings are making in excess of 10000euro an acre.

Basically does the irish Indo and the Farmers Journal, Just show the high end agri properties on the market in different areas giving little regard for the lesser holdings in similar areas??

Sorry if these question appears in any way absurd!!!!!!

the farmers journal is known for focusing on high price sales around the country , thier is many a farm being sold for far less than 10 k per acre at the moment but from reading the journal , you would think such propertys were like hens teeth

Figerty

It's obvious that the farms that are profiled are always in the Ads paid for by the Auctioneering firms that selling the properties.

There is always the chance of bidding mania even in a recession between two famers.

I did note that a farm sold locally here to a local that came back with a bag of Austrailian dollars. So there are a few that are still willing to spend big for bad land!

easydosh

surely this cant be right

keep going

met my auctioneer buddy last night and he told stuff is flying.its all lads who have money in banks or some form of euro cash that are buying and a feature now sales are closing at lightening speed once the deal is done.nobody is borrowing for anything.a fella near us has bought 2 farms for a million each and just wants to rent them out,no interest in farming them but he was really panicking about the euro and basically any bank in the world.if something big happens at least the land is always there.+10000 an acre by the way

irishh_bob

keep going wrote: »

met my auctioneer buddy last night and he told stuff is flying.its all lads who have money in banks or some form of euro cash that are buying and a feature now sales are closing at lightening speed once the deal is done.nobody is borrowing for anything.a fella near us has bought 2 farms for a million each and just wants to rent them out,no interest in farming them but he was really panicking about the euro and basically any bank in the world.if something big happens at least the land is always there.+10000 an acre by the way

fair play to the people who can spend a million on land but im not sure fear of a euro crash is enough reason , i think its pretty clear that the euro wont be allowed fail no matter what the price is , greece has effectivley defaulted yet has been saved regardless , the usa and china would suffer big time if the euro died , wont be allowed to happen , anyone who bought greek bonds in the past few years is earing around 90% interest on thier money :eek: and yet it appears to be a sure bet

easydosh

@keep going - at least land will always still be there if i cast my mind back to d boom wasnt that one of the factors that drove the housing market to its dizzying heights?? And if he was renting them after paying 10kplus ac,, it would take around 50 years odd or so for him to recoup his investment given that renting atm is around the€220 acre for a year.]

irish bob -_____ I agree the euro wont and cant die given its importance, although greeces position maybe in jeopardy the euro will still be around.

keep going

if it was just the euro it wouldnt be too bad,people are genuinely afraid the worlds finacial system is going to pot

irishh_bob

keep going wrote: »

if it was just the euro it wouldnt be too bad,people are genuinely afraid the worlds finacial system is going to pot

you make it sound like the financial system is like the weather , the market is a lot less free than people think , stocks , shares , commodities , they are rigged in some shape or form , someone is always making a fortune somewhere regardless of the possition for the majority , last time thier was a global depression , we ended up with a world war at the end of the thirties , times are very different now

keep going

if you had x million in the bank do you not think its wise to spread risk and invest in different assets,what ever about the return.the land or house is there its real where as a lot of other assets are paper and nobody knows whats real and whats not.

AMurph1979

It is important not to take average agricultural land price statistics too seriously, the financial positions of neighbours can often distort particular prices. I know a bank manager who says "if a dairy farmer can walk cows to it we'll go the extra mile" hence if 2 financially strong dairy farmers can walk cows to it then it will make big money.
Plus the sale of a top quality property can distort the figures, if you're interested in agricultural land in Cork this is a good site I came across recently http://www.christybuckley.com/