11th March 2026
Land Sale and Lease Prices Continue Upwards – IPAV Farming Report 2025
“We’re clearly undergoing major social change” – Genevieve McGuirk, IPAV Chief Executive
Keen competition from a range of sources – farming and non-farming, along with constrained supply saw further increases in land and lease prices during 2025, according to the latest Farming Report from IPAV, the Institute of Professional Auctioneers &Valuers.
Munster, however, was an exception when demand for land prices softened in the latter half of the year as a result of milk price cooling.
Average price per acre across the provinces were:
| Province | 2024 | 2025 | |
| Connacht | €9,750 | €10,667 | |
| Ulster | €12,625 | €13,667 | |
| Munster | €17,162 | €16,100 | |
| Leinster | €16,529 | €17,333 |
Nationally, the average price for an acre of agricultural grazing land rose to €14,442, up from €13,949 in 2024, representing annual growth of 3.5%. Forestry values also strengthened, with the average forestry per-acre price rising to €6,602 from €6,407 (+3%), despite ongoing challenges including extensive storm damage and continuing issues around licensing.
In the rental market, con-acre rates continued to move upward, averaging €287 per acre (up over 4%), while long-term grazing leases increased by 4.7% to €313 per acre.
Tillage leasing land was making an average of €292 per acre, only marginally lower than 2024.
IPAV’s Land Survey suggests the market in 2026 will continue to see tight supply with the move from con-acre to longer leases restricting supply, and competition for well-located, high-quality parcels of land remaining intense.
During 2025 Leinster had a more positive experience than elsewhere with regard to supply, with probate sales featuring strongly. Here and elsewhere probate, retirement and executor sales are strong features of the market.
Genevieve McGuirk, IPAV’s Chief Executive said: “We’re clearly undergoing major social change, with retirement, fewer children farming, and economic pressures, particularly on smaller farms.
“Increasingly investors view land as a safe asset and a mechanism for wealth transfer. They had a strong presence in the market across the year, in some areas they accounted for up to 70% of buyers,” she said.
“The continuing movement to longer-term leases from the con-acre system that previously dominated the market is particularly notable with an ever-increasing number of non-farming landowners leasing rather than selling.”
She said the appeal of tax incentives for landowners is clearly a big driving factor, encouraging and giving confidence to younger farmers who may not otherwise have access to land. “It also facilitates other enterprises that need land. This is something policy makers should take on board in the housing market. Tax incentives work because they motivate rather than disincentivise property owners and developers,” Ms McGuirk said.
As is the norm with land and what it can deliver in terms of farm incomes, it’s wide open to global market volatility and changes in agricultural policy at EU level, she said. A much weaker dairy outlook is one such, with incomes forecast to drop by over 40%.
However, local factors also play their part. “While the storms of winter 2024/2025 challenged forestry, the excessive and very prolonged rainfall of the departing winter will leave many tillage farmers experiencing unexpected losses and racing to recover.”
Looking ahead, most IPAV agents point to broad stability, with the direction of prices hinging on profitability, credit conditions, and policy/trade uncertainty.
Below is a province specific analysis and commentary from agents.
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CONNACHT
Connacht recorded the strongest provincial uplift in 2025, with improving values underpinned by steady supply but intense competition for good parcels. The average per acre price for arable land in the province rose from €9,750 per acre (2024) to €10,667 per acre (2025), up 9.4%. The average price of forestry land stood at €5,833 reflecting prices paid in 2024. Demand for 20 to 50-acre holdings remained particularly strong, while larger single-block farms attracted significant attention when offered, with indications that young entrant farmers are showing strong interest.
Leasing availability was widely described as tight for quality grazing and silage ground, supporting firm rental prices of €233 per acre for con-acre grazing land and €282 for long term letting ground. The limited amount of tillage ground in the province was making €260 per acre. Connacht also stands out for the scale of investor and hobby-farmer activity, which continues to widen the buyer base and help underpin values.
IPAV Agent commentary Connacht:
Cathal Meares In Roscommon, Cathal Meares reports a relatively steady supply of land for sale, especially in the 20–50-acre bracket with rising demand for larger farms of over 100 acres in single blocks. He attributes strong prices to strong farm incomes, limited supply, and sustained competition from dairy, beef, part-time farmers and business purchasers. On the rental side, supply was tight relative to demand keeping rental values firm. Looking ahead, he thinks softer milk prices will potentially temper dairy-driven demand. Another profitable year for beef farmers should help support confidence.
Roger McCarrick of Tubbercurry and Sligo Town describes an extremely limited supply of land for sale, with very tight availability also a feature of the letting market. He adds that some land that would traditionally have been let is instead being sold into forestry, further restricting rental supply. He notes that the buyer mix has shifted heavily toward hobby farmers and investors rather than full-time farmers, a trend he expects to continue. In his region there is a smaller but noticeable cohort of local people returning from abroad to purchase small holdings.
Colm Farrell of Gort in Co Galway reports that the supply of land for sale has been moderate and broadly unchanged for the past six to seven years. On prices, he expects little movement over the next 12 months, attributing recent land values mainly to constrained supply alongside consistent demand, with an increasing presence of business (non-farmer) buyers helping to support price levels by widening the pool of competing purchasers.
LEINSTER
Leinster posted another year of strong values remaining the highest-priced province on average in 2025. Prices strengthened from €16,529 per acre to €17,333 per acre, up 4.9% on the previous year. Commentary by Leinster agents suggests investor demand is particularly influential, alongside strong competition for smaller parcels and prime land located close to dairy units. Forestry remains relatively stable at €7,125 per acre.
In several districts, the decision by landowners to let rather than sell continues to constrain supply and is driving prices for scarce offerings. The leasing market is increasingly dominated by multi-year arrangements with an average of €334 being paid for land in this category across the province with some agents recording prices well over €400 per acre. Con-acre forms a small share of available rental land and achieved an average of €298 per acre. Leinster has a strong tillage sector and while the average per acre price for tillage land came in at €307, vegetable and potato ground was making much more than that.
IPAV Agent commentary – Leinster:
Stephen Barry of Raymond Potterton auctioneers says land values continue to be driven overwhelmingly by investor demand, particularly investors motivated by the tax advantages of agricultural relief to facilitate intergenerational wealth transfer. He expects this incentive to remain the dominant factor underpinning prices over the next 12 months.
Stephen Gunne reports that supply in the northeast is slightly down on last year, but prices for good land have strengthened, For the coming year, he sees little to weaken demand and identifies key drivers as expansion by stronger farm enterprises, buyers from north of the border, and business interests attracted by land’s long-term stability.
David McDonnell describes 2025 Westmeath land market as buoyant, with a good supply of land coming to the market, largely prompted by probate sales. He notes that auction clearance rates have been strong with most properties selling under the hammer. On leasing, he said that larger farmers, often under increasing nitrates pressure, are willing to pay higher rates and tend to prefer long-term leases over con-acre, with landlord tax incentives continuing to push these longer lease terms.
Anne Carton notes no major change in the supply of land for sale across South Wexford and South Kilkenny but emphasizes that many landowners are choosing to lease rather than sell, which limits sales supply. Despite that, demand, especially for 20-to-30-acre parcels, is exceptionally strong, with prices reaching as high as €26,000 per acre for such blocks. She identifies dairy expansion and investor interest in land as a safe long-term asset as the key forces driving values.
Clive Kavanagh report limited supply of land for sale in Kildare because long-term leases are effectively postponing selling decisions. They also see limited availability to rent, as many leases are already in place and being rolled over. For the next 12 months, they expect prices to remain strong, supported by the combination of constrained supply and continued interest from active buyers, investors, and lifestyle purchasers.
Ella Dunphy says average land prices in the Kilkenny area rose by about 9% in 2025, with prime, good-quality agricultural land making premium prices, particularly where parcels are neighbouring dairy and tillage farms. She adds that prices are being shaped by differing outlooks across sectors – stable tillage expectations, softer milk prices but persistent premiums for quality dairy land (sometimes exceeding €30,000 per acre), and rising forestry values supported by government incentives.
MUNSTER
Munster remains one of the strongest-value land regions in the country, but the provincial average eased in 2025 from €17,162 per acre to €16,100 per acre, down 6.2% Land suitable for forestry made an average of €6,950 per acre representing a slight improvement on 2024 prices.
Agent feedback often describes a two-part year: strong activity early on, followed by softer demand later as milk prices cooled. Dairy purchasers remain highly influential where parcels are close to established operators, while business and investor buyers are increasingly active, viewing land as a safe asset and a mechanism for wealth transfer.
On the leasing side, the move toward longer-term arrangements continues to reduce new con-acre availability and intensify competition when opportunities arise. Nevertheless, con-acre land was making €338 per acre while long-term letting land was getting an average of €362 per acre. Tillage ground was averaging at €353 per acre.
IPAV Agent commentary – Munster:
Tom Crosse of GVM Limerick said supply was very low with much land locked in long term letting arrangements where owners can hold the asset and derive a steady tax-free income. New lettings drew strong interest in a very competitive environment with dairy farmers in particular keen to get their hands on land to comply with the restrictions of the Nitrates Directive. Businesspeople are now also very active and using land as a mechanism for transferring wealth to the next generation
Michael Brady of the Cork based Brady Group sees land sales continuing at present levels. Unless there is a global economic downturn, strong interest from dairy farmers will continue, the demand for stud farms will remain strong along with the increasing demand from tax investors. However, he sees land rental prices falling particularly as the renewal of the derogation from the Nitrates Directive for three years could potentially mean that no extra land will be needed by dairy farmers who want to avoid herd reductions. There will also be less demand from other sectors as beef cattle numbers continue to decline and the profits from tillage remain low.
Andy O’Donoghue of Hodnett Forde Clonakilty saw demand and enquiries drop off in second half of year, coinciding with reduced milk prices. While businesspeople are very active in the West Cork market there was some evidence that farmers who sold land for development were buying it back.
John Stokes of REA Stokes and Quirke, Clonmel said that that supply was very limited and quality ground attracted premium price in an area where land makes consistently strong prices. It was a perfect storm for vendors where strong farmgate prices led to strong demand in a tight market.
Pat Quirke of P F Quirke saw a huge demand for any land that came for sale in South Tipperary, meanwhile more and more land is going into long term leases. To illustrate this he said his firm handled the lease of 2,000 acres of ‘new’ leasing land over the past two years.
ULSTER
Ulster strengthened in 2025 as limited supply met strong appetite for quality blocks. The per acre price increased from €12,625 per acre to €13,667 per acre, up 8.3%. The price of forestry land at an average of €6,500 per acre is relatively unchanged from 2024. Agents report strong competition where attractive farms with good access and layout come to the open market while vendor price expectations are holding firm.
Leasing supply is also tight, with a noticeable shift toward longer lease models, which is reducing land turnover and reinforcing scarcity across both the sale and rental markets. The average price for grazing land leased on a con-acre basis was €279 per acre while long term leases were commanding an average of €274 per acre with tillage land making €250 per acre. Farm fundamentals such as drainage, water supply, access, and parcel shape were cited as key differentiators of value.
IPAV Agent commentary – Ulster:
Raymond Smith says that in Cavan over the last 12 months, land has been scarce but demand stayed very strong for well-laid-out farms with good access, water and frontage. Rental supply has also been tight with strong interest from younger and expanding farmers and a preference for longer leases where available. Overall, he says price outcomes have been driven by limited supply, expansion demand, and the underlying quality and practicality of the land.
Declan Woods describes the sales market in Cavan as very limited, and highlights a clear shift toward longer leases, further tightening supply. For the next 12 months he expects values to remain where they are, influenced by dairy price movements and ongoing uncertainty around Mercosur. He attributes 2025 pricing mainly to the strength of the dairy and beef sectors alongside continued demand from business-community buyers.
Sonia Harvey reports that land for sale in Monaghan has been limited with demand consistently outstripping supply, especially for good grazing and tillage ground. Con-acre availability has been relatively stable with the same farmers continuing to rent, however, the overall lack of land for sale or lease is reinforcing competition and supporting higher values. Looking ahead to 2026, Sonia expects land prices to keep rising, though at a more moderate pace than recently. She says the main drivers remain strong farm incomes, persistent demand, and constrained supply.
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