Land prices reported up to average of 15k per acre

handlemaster

http://www.independent.ie/business/farming/auction-prices-break-15kac-mark-31584064.html


I doubt this can be taken seriously. Are prices really averaging at that ?

farmerjj

handlemaster wrote: »

http://www.independent.ie/business/farming/auction-prices-break-15kac-mark-31584064.html


I doubt this can be taken seriously. Are prices really averaging at that ?

No, these are just some isolated cases. Average prices just a little over €10k.

handlemaster

farmerjj wrote: »

No, these are just some isolated cases. Average prices just a little over €10k.

I reread it again. Your right. 10k/15k seem high still. Particularly in the west land is around 7 k I think. But with some land having sites close to town etc it would bring it up

freedominacup

handlemaster wrote: »

I reread it again. Your right. 10k/15k seem high still. Particularly in the west land is around 7 k I think. But with some land having sites close to town etc it would bring it up

350 acres for sale in my locality. Blocks from 35-140 acres. Not many buyers. 35 acre block bought by bounding farmer. He was the only bidder. Doubt if he paid anything like 10k/acre. He has another block of an outfarm for sale to finance the purchase of another block bounding him. Not being trampled in the rush on those blocks either.

washman3

A 'land bubble' just like the housing bubble. This will end exactly the same way. watch this space..!!

Dawggone

freedominacup wrote: »

350 acres for sale in my locality. Blocks from 35-140 acres. Not many buyers. 35 acre block bought by bounding farmer. He was the only bidder. Doubt if he paid anything like 10k/acre. He has another block of an outfarm for sale to finance the purchase of another block bounding him. Not being trampled in the rush on those blocks either.

Gwan ta feck and buy what's left before its all sold off in bits and pieces!
Then just sit back and watch the asset appreciate.

I've a bit of ground to move on so I'm hoping the banks start firing out money for land. I turned down a lucrative seven year lease so as I could sell...me stupid?

handlemaster

washman3 wrote: »

A 'land bubble' just like the housing bubble. This will end exactly the same way. watch this space..!!

We are far from a housing bubble. As for a land bubble I dont see it yet

larrymiller

Land near me sold for 14000 an acre recently although there was a farm house in need of repair but I doubt that was the reason

handlemaster

larrymiller wrote: »

Land near me sold for 14000 an acre recently although there was a farm house in need of repair but I doubt that was the reason

What part of the country is that ? I guess its down to who wants it and what can be done with it

freedominacup

Dawggone wrote: »

Gwan ta feck and buy what's left before its all sold off in bits and pieces!
Then just sit back and watch the asset appreciate.

I've a bit of ground to move on so I'm hoping the banks start firing out money for land. I turned down a lucrative seven year lease so as I could sell...me stupid?

It's all bits and pieces. Five different sellers. I'm tapped out. Bought at the complete wrong end of the cycle. If I got the bit I bought at the prices mentioned in the op I'd think all me birthdays were coming together. Otherwise I'd be in the market.

poor farmer

larrymiller wrote: »

Land near me sold for 14000 an acre recently although there was a farm house in need of repair but I doubt that was the reason

Land near here longford/letrim border sold recently

40 acres €150,000 neglected land needs work no buildings.

handlemaster

poor farmer wrote: »

Land near here longford/letrim border sold recently

40 acres €150,000 neglected land needs work no buildings.

sounds like forestry land more than anything @3750 per acre.

tomwaterford

handlemaster wrote: »

We are far from a housing bubble. As for a land bubble I dont see it yet

There's certainly a land rental bubble well after starting...at the prices being quoted for rental of e300 (minimum/no sheds..poor fencing need of reseeding..heard upto e465..just for grassland) an acre?

How can it pay for itself??


There's a farm of roughly 200 acres farmed by an old man nearly retirement near me who's son is to take it over...bounding three large enough dairy farmers (200cows each approx)...who have roadways built to the bounds ditch


What will that make if he decides to play each other off?...as they are each actively seeking land and approached another ould lad I know who've few suckler a to rent his place at e340-370 and acre :eek:


Not to mind the arrogance of assuming he'll not farm it

handlemaster

tomwaterford wrote: »

There's certainly a land rental bubble well after starting...at the prices being quoted for rental of e300 (minimum/no sheds..poor fencing need of reseeding..heard upto e465..just for grassland) an acre?

How can it pay for itself??


There's a farm of roughly 200 acres farmed by an old man nearly retirement near me who's son is to take it over...bounding three large enough dairy farmers (200cows each approx)...who have roadways built to the bounds ditch


What will that make if he decides to play each other off?...as they are each actively seeking land and approached another ould lad I know who've few suckler a to rent his place at e340-370 and acre :eek:


Not to mind the arrogance of assuming he'll not farm it

interesting you mention renting, the time of year I would think affects the value if the land is for sale or rent for example wet land might on the whole sell better during the summer months or am i over thinking it.

tomwaterford

handlemaster wrote: »

interesting you mention renting, the time of year I would think affects the value if the land is for sale or rent for example wet land might on the whole sell better during the summer months or am i over thinking it.

I dunno...I don't mean to be coming across badly/bluntly...for some it seems to me just greed that they want to rent asmuch as possible
As I do genuinely question the economics/profitability of paying e400+ an acre for land 8-10 miles from the farmyard to zero graze Long term for milking cows seems questionable to me...

larrymiller

handlemaster wrote: »

What part of the country is that ? I guess its down to who wants it and what can be done with it

In Wexford. Was sold before and a lad from cork got it for the quota and now he sold up!

MF290

Good land in need of a bit of tidying and tlc in these parts making 6-7k an acre. It's great not having too many dairy farmers about! If only I was a few years older and a few euros better off...

Timmaay

MF290 wrote: »

If only I was a few years older and a few euros better off...

I think my saving grace when the 50 acres showed up beside me 2 yrs ago for 8k/acre was that just the above ha

Grueller

MF290 wrote: »

Good land in need of a bit of tidying and tlc in these parts making 6-7k an acre. It's great not having too many dairy farmers about! If only I was a few years older and a few euros better off...

Never think that you are too young. Too broke is a different thing. In my twenties the auld lad here pushed me to buy a bit of land when I thought I was too young. Best advice he ever gave me. Leads me on to my pet gripe, yoing farmer til 40. In other lines of work this is time to start planning for retirement.

MF290

Grueller wrote: »

Never think that you are too young. Too broke is a different thing. In my twenties the auld lad here pushed me to buy a bit of land when I thought I was too young. Best advice he ever gave me. Leads me on to my pet gripe, yoing farmer til 40. In other lines of work this is time to start planning for retirement.

Hopefully the price doesn't pick up too soon, then again I could always wait until the next boom and bust: D

keep going

Theres been several mini booms and busts last few years as there has always been if you listen to the old lads but land prices are one of the most individual things you can get, it depends on the neighbours, size, perception-some fellas wont buy if it hasnt a "good"name and the mood in agriculture.as for land rent some places are easoly worth 3 to 400 hunderd an acre to some people and would have no problem making money outvof it whereas other farmers cant make money if they got it for nothing

Willfarman

Land prices sho a huge spike from 2001 onwards to 2008. And haven't balanced yet.

handlemaster

Does land have a different trend in different counties when most comes on the market?

When is the best time to buy or sell as price varies for area to area

pedigree 6

keep going wrote: »

Theres been several mini booms and busts last few years as there has always been if you listen to the old lads but land prices are one of the most individual things you can get, it depends on the neighbours, size, perception-some fellas wont buy if it hasnt a "good"name and the mood in agriculture.as for land rent some places are easoly worth 3 to 400 hunderd an acre to some people and would have no problem making money outvof it whereas other farmers cant make money if they got it for nothing

There's guys around here who were buying land at any price just to get it and they were paying 3 to 400 an acre for rent. They were driving new fendt tractors and everyone presumed they were top business men. Now they're in trouble with banks revenue etc and it's the banks fault for lending them the money. Vanity is a dangerous thing just because your neighbour pays more for land, driving new tractors etc doesn't mean he/she is better at business than you are, it could mean the exact opposite.

Willfarman

handlemaster wrote: »

Does land have a different trend in different counties when most comes on the market?

When is the best time to buy or sell as price varies for area to area

Not a great commodity for short term trading! Trends would be in 2 or 3 year periods. And a lot of things to factor in. But personally I wouldn't buy land based on value at price at the present time. It will come back a couple of thou at least nationally at least IMO

Willfarman

pedigree 6 wrote: »

There's guys around here who were buying land at any price just to get it and they were paying 3 to 400 an acre for rent. They were driving new fendt tractors and everyone presumed they were top business men. Now they're in trouble with banks revenue etc and it's the banks fault for lending them the money. Vanity is a dangerous thing just because your neighbour pays more for land, driving new tractors etc doesn't mean he/she is better at business than you are, it could mean the exact opposite.

Won't hear truer words today!

handlemaster

Willfarman wrote: »

Not a great commodity for short term trading! Trends would be in 2 or 3 year periods. And a lot of things to factor in. But personally I wouldn't buy land based on value at price at the present time. It will come back a couple of thou at least nationally at least IMO

What I was refering to was what month is Best to put land up for sale or best month to buy? For the different counties id assume there are better times depending on land location and quality of land.

kevthegaff

When milk price is over 35c/litre!!

tomwaterford

kevthegaff wrote: »

When milk price is over 35c/litre!!

2030 so??
:pac:

Milked out

handlemaster wrote: »

What I was refering to was what month is Best to put land up for sale or best month to buy? For the different counties id assume there are better times depending on land location and quality of land.

Look tbh if you are looking to buy or sell id say go away and do it in the here and now or with irish land market you'll be either standing looking at it to buy and giving out tgat you didn't or you'll be sitting on it wondering why you didn't sell.

Base price

pedigree 6 wrote: »

There's guys around here who were buying land at any price just to get it and they were paying 3 to 400 an acre for rent. They were driving new fendt tractors and everyone presumed they were top business men. Now they're in trouble with banks revenue etc and it's the banks fault for lending them the money. Vanity is a dangerous thing just because your neighbour pays more for land, driving new tractors etc doesn't mean he/she is better at business than you are, it could mean the exact opposite.

They will do a "deal" with the banks, put their land up for sale and buy it back a half the price that they originally paid for it.
I have seen 3 simular situations in the last year/16 months and in all 3 cases the "bankrupt" farmers have squared their debts and are as happy as pigs in sh1t.
Makes one wonder who is better at business

tomwaterford

Base price wrote: »

They will do a "deal" with the banks, put their land up for sale and buy it back a half the price that they originally paid for it.
I have seen 3 simular situations in the last year/16 months and in all 3 cases the "bankrupt" farmers have squared their debts and are as happy as pigs in sh1t.
Makes one wonder who is better at business

For a state owned and run banks...if general public find out about this more or less write off of debt (at taxpayers expense) their will be war

pedigree 6

Base price wrote: »

They will do a "deal" with the banks, put their land up for sale and buy it back a half the price that they originally paid for it.
I have seen 3 simular situations in the last year/16 months and in all 3 cases the "bankrupt" farmers have squared their debts and are as happy as pigs in sh1t.
Makes one wonder who is better at business

Yea your probably right. It would take a hard necked individual to buy the land off the banks if it went to auction, especially if it bounds the farm of the guy who previously bought it. Although I know of other situations where land was bought at inflated prices and now they can't pay for it and they're putting their whole farm at risk and would of been better off letting it go.:(

Base price

tomwaterford wrote: »

For a state owned and run banks...if general public find out about this more or less write off of debt (at taxpayers expense) their will be war

Simular situations appear to be happening every day of the week.
How many "limited companies" have gone bust in the last 5 years leaving millions of debt behind them yet the same people are back in business now.
Local independent hardware/agri store did well to survive when builders, plumbers, electricians etc shafted them for hundreds of thousands. We the taxpayer are carrying them too.
At a social function in 2012 I was talking to a well know business man who was in debt to the banks and he said - if you owe the banks than owe them big time otherwise they won't parle. Still remember his words as they were like a kick in the face to me.

Willfarman

Big change in how borrowed money is secured since the boom. The banks have a gra now for the deeds of the home place knowing that a lad would sooner lose the missus and the mother.

Also they are meticulous now in the legal end of things. They have a proper grip of the secured assets. There was often loophole and wriggle room before!