Land Value in the west?

Hi there, looking for a rough valuation for land in the west of Ireland. Roscommon area.

I have about 8 acres of land, on a hill but not steep, jjust a slight incline, could put a house on it no problem. Used for hay in the summer months and grazing afterwards.

Im getting about 900 euro per year to set the land for 9 months, but considering selling. Could anyone give me a rough guide to what the value for selling should be approx.

Thanks

roosky

The problem with your question is the idea of "the west" having a universal land price.

Land quality changes many times over within a parish never mind withìn the west

The poorest land in roscommon (North Roscommon) can sell for as low as 3,000 and acre with the forestry deciding that price

Middling ground that could be worked on it worth 6 to 10 thousand with a small parcel like your likely to be highly valued if you have two neighbors that want it.

Where are you based in Roscommon

roosky

roosky wrote: »

The problem with your question is the idea of "the west" having a universal land price.

Land quality changes many times over within a parish never mind withìn the west

The poorest land in roscommon (North Roscommon) can sell for as low as 3,000 and acre with the forestry deciding that price

Middling ground that could be worked on it worth 6 to 10 thousand with a small parcel like your likely to be highly valued if you have two neighbors that want it.

Where are you based in Roscommon

Thanks for the reply.

The Ballymoe area, literally on the border of Roscommon Galway but the Roscommon side.

roosky

ya your the right side of the county probably looking more in the range of 10 to 12 thousand per acre for that amount of acres.

epfff

[Deleted User] wrote: »

Hi there, looking for a rough valuation for land in the west of Ireland. Roscommon area.

I have about 8 acres of land, on a hill but not steep, jjust a slight incline, could put a house on it no problem. Used for hay in the summer months and grazing afterwards.

Im getting about 900 euro per year to set the land for 9 months, but considering selling. Could anyone give me a rough guide to what the value for selling should be approx.

Thanks

It worth what one farmer will push another into paying
Why only 900 rent?
Why would it be worth more than. *40 times it rent unless their is building potential.
Can't see it passing 6k per acre unless you have two very land hungry farmers with MONEY very close by

2Plots sold less than 20 miles from you for considerably less than 3k in the last year

handlemaster

OP your best option is just to contact a few auctioneers see what they say. People still love to buy land and if there is building potential that will push up the price as to a family wanting to set up home it would be worth more than the local farmer. Then again farmers love to buy land and not much else

roosky

epfff wrote: »

It worth what one farmer will push another into paying
Why only 900 rent?
Why would it be worth more than. *40 times it rent unless their is building potential.
Can't see it passing 6k per acre unless you have two very land hungry farmers with MONEY very close by

2Plots sold less than 20 miles from you for considerably less than 3k in the last year

The very very worst of land that is not even worth 50 euro a year to rent is making 3000 for forestry

epfff

roosky wrote: »

The very very worst of land that is not even worth 50 euro a year to rent is making 3000 for forestry

Disagree
I know of 2 parcels sold for 2.5k (would be suspicious of doggy activity on behalf of auctioneer as I would have defo paid more but told of much higher reserve when I showed interest)and 1k for plot of very poor quality with real no access)in roscommon last year

massey woman

At auction today 78 Acre residential farm in North Roscommon , 50 ish acres good land,10 acres low lying and 10 acres onto the Shannon
House about 30 years old
Full range of traditional buildings all in good shape
Water and electricity
Bargain price of €200
Surely steal of the Century?
On the other hand try and make money out of it

djmc

massey woman wrote: »

At auction today 78 Acre residential farm in North Roscommon , 50 ish acres good land,10 acres low lying and 10 acres onto the Shannon
House about 30 years old
Full range of traditional buildings all in good shape
Water and electricity
Bargain price of €200
Surely steal of the Century?
On the other hand try and make money out of it

I take it you mean 200k if 200 euro then definitely a bargain.
I think land is dropping to more realistic value since the property crash especially in areas where their is no money to be made farming it.
I see a lot of marginal land around here now being abandoned which is a shame really considering all the work put in by our ancestors to try and make land of it.

massey woman

The ancestors are forgotten very fast when the bills accumulate here beside me anyway
The descendants of the most industrious hard working farmers beside me were the very first to sell
All cited the level of slavery their parents endured to maintain a livelihood
Sorry yeah it was €200,000
Access via a right of way was the only negative

djmc

I am referring to land being left idle rather than being sold seems some farms working up to the 1980s either simi retired or got off farm jobs and probably never got sfp or maybe wasn't worth their while if they had low stocking numbers during the first reference years
What were green fields are now just briars furze or rushes with no livestock on them.
A farm alongside me sold for similar money with a lot of road frontage.

jimini0

West mayo area here. Was talking to a friend earlier. He was interested in a bit of land near him. It was not up for sale but he approached the owner (non farmer) her deceased father owned it. 10 acres on a hill. 5acres has had sheep or cattle grazing but the other 5 is overgrown and not grazed for years. Anyways he offered 4k an acre. Very fair offer considering the condition. She rang this morning and told him they want 7k an acre. Its not worth 5 if it went up for auction or sale.
Good land not far away went 8k an acre but that was good land

handlemaster

jimini0 wrote: »

West mayo area here. Was talking to a friend earlier. He was interested in a bit of land near him. It was not up for sale but he approached the owner (non farmer) her deceased father owned it. 10 acres on a hill. 5acres has had sheep or cattle grazing but the other 5 is overgrown and not grazed for years. Anyways he offered 4k an acre. Very fair offer considering the condition. She rang this morning and told him they want 7k an acre. Its not worth 5 if it went up for auction or sale.
Good land not far away went 8k an acre but that was good land

If someone wants to pay 7k then its worth it.

jimini0

handlemaster wrote: »

If someone wants to pay 7k then its worth it.

I understand that but my point was that people seem to think their land is worth the goin rate of land in the area. I don't think its greed.
This land is really of no benefit to any but my mate. Its next door to his him house and only small farmers beside him. I cant see anyone else from.outside the neighbour hood wanting it.

J.O. Farmer

jimini0 wrote: »

I understand that but my point was that people seem to think their land is worth the goin rate of land in the area. I don't think its greed.
This land is really of no benefit to any but my mate. Its next door to his him house and only small farmers beside him. I cant see anyone else from.outside the neighbour hood wanting it.

How do you negotiate. Your mate offered 4k and presumably he'll give more. The owner asked for 7k and may take less. Divide the difference and it's about 5.5k. The opening positions on any negotiation normally leaves room for manoeuvre.
Also the land isn't advertised as being for sale so maybe the owners aren't too bothered about selling but will sell if they get a premium price and hold onto it if they don't. I don't see anything wrong with that.

roosky

massey woman wrote:

At auction today 78 Acre residential farm in North Roscommon , 50 ish acres good land,10 acres low lying and 10 acres onto the Shannon House about 30 years old Full range of traditional buildings all in good shape Water and electricity Bargain price of €200 Surely steal of the Century? On the other hand try and make money out of it

Was that the farm in Kilmore???

handlemaster

With the new government coming in there might be a deal for one off houses in the country side. This would put the land with building site potential higher

massey woman

Yeah Rooskey
Farm in Kilmore
Seems a nice quiet area close to Carrick on Shannon

roosky

massey woman wrote:

Yeah Rooskey Farm in Kilmore Seems a nice quiet area close to Carrick on Shannon

Seen that farm for sale alright..alot of it is very rough ground but at that price you could afford to give it some tlc

The placement of the house would mean it would be little addition unless you planned on living there yourself

Best of luck to the new owner

gozunda

jimini0 wrote: »

West mayo area here. Was talking to a friend earlier. He was interested in a bit of land near him. It was not up for sale but he approached the owner (non farmer) her deceased father owned it. 10 acres on a hill. 5acres has had sheep or cattle grazing but the other 5 is overgrown and not grazed for years. Anyways he offered 4k an acre. Very fair offer considering the condition. She rang this morning and told him they want 7k an acre. Its not worth 5 if it went up for auction or sale.
Good land not far away went 8k an acre but that was good land

The thing about land is that they're not making any more of it ....

massey woman

gozunda wrote: »

The thing about land is that they're not making any more of it ....

thats what the bank manager told me
A finite resource says SHE

freedominacup

Three farms withdrawn from sale in this parish in the last couple of months. Last one in the past week after receiving two what were termed derisory offers. As far south as you can get. Next parish N.Africa.

Milked out

freedominacup wrote: »

Three farms withdrawn from sale in this parish in the last couple of months. Last one in the past week after receiving two what were termed derisory offers. As far south as you can get. Next parish N.Africa.

Could those derisory offers be the start of the new normal if milk and grain stay on the low side.....

freedominacup

Milked out wrote: »

Could those derisory offers be the start of the new normal if milk and grain stay on the low side.....

I think so. All commercial farms in this area. Plenty of development work ongoing. Not too many without some bank debt which means land purchase has to stand itself up because the only finds available are those generated by the enterprise. 10k/acre is very difficult to fund from even good years margins.

Last buyer around here sold another farm to a man who basically bought it because he could. Has a great interest in farming but no reliance on it at all. Money came from another business. The buyer sold an outfarm to buy land bounding his home block.

handlemaster

Deleted User wrote: »

Hi there, looking for a rough valuation for land in the west of Ireland. Roscommon area.

I have about 8 acres of land, on a hill but not steep, jjust a slight incline, could put a house on it no problem. Used for hay in the summer months and grazing afterwards.

Im getting about 900 euro per year to set the land for 9 months, but considering selling. Could anyone give me a rough guide to what the value for selling should be approx.

Thanks


How did you get on with the valuation ?

Add your reply here.

handlemaster

i see in the farmers journal a farm in longford made 9000 per acre. 77 acres in total