Sale of forestry in Connaught and Ulster from the poor lands proving difficult to sell

  • Sale of forestry in Connaught and Ulster from the poor lands proving difficult to sell
    FarmIreland.t. E.
    Most sales of land held by private contract, particularly with regard to the sale of land in Connaught/Ulster is, perhaps, unfair to compare it to the land market with other regions in the survey using public auction as a criterion.
    https://www.independent.ie/business/farming/farm-property/connacht-farm-sales/forestry-sales-down-in-connacht-and-ulster-with-poorer-land-proving-a-hard-sell-37168649.html
    https://www.independent.ie/business/farming/article37168648.ece/9f36b/AUTOCROP/h342/2018-07-31_bus_42811289_I1.JPG

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Most sales of land held by private contract, particularly with regard to the sale of land in Connaught/Ulster is, perhaps, unfair to compare it to the land market with other regions in the survey using public auction as a criterion.

Poll of public auction for the sale of land for the first part of 2018 will not be a great read for those involved in the sale of land in the West and border counties.

A total of eight auctions recorded in the national press for Connacht/Ulster saw 184ac for sale, representing a decrease of 64 units on the volume disposed of at auction by this time last year.

The average price per acre of €6,900/AC down 16pc on last year’s price while the holder cash in an open auction sale of land in early 2018 down 70pc from £ 4.22 million spent last year.

Was only €1.2 m was created at auction in six months just disappeared.

It should be noted that in early 2017 in the area had two large land sales; 120ac farm at Moylough in County Galway, which amounted to more than €10,000/AC 125ac farm with large barns in the County Roscommon, which has committed over €8,000/AC.

There was a Header property for sale in the region for the first half of 2018.

The highest price paid for land was the figure of 10 000 euros/AC paid for 8.5 AC of pasture, located in between the Carrowmore Shrule and headford in County Galway. An amount of €85,000 was paid in the sale of processed headford Windows.

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It is difficult to compare the price of the land was sold at auction in the first half of 2018 with the same period in 2017, given the increase in sales 101ac farmland in cork city that the development in land prices when he went to €5.8 M or 58,000/AC at auction in June.

To the North in Co Cavan figure of €9,550/AC was paid for non-20ac holding Carrickcreeny near Shercock in the auction conducted by Patrick Crosby for €191,000.

Auctioneer Martin short received €8,600/AC 27.2 AC farm in Carricksimon, Virginia in County Cavan, while in Sligo, John Murphy from Bunclody received €7,500/AC 10ac parcel of grazing on Bunninadden in County Sligo, which amounted to €75,000 per day.

Commenting on the findings John Earley of Roscommon stated that arising from bad winter six weeks later West of the Shannon

“It was raining from last August until may and the ground was very wet, especially in this part of the country. Sales from recent time I made up to €8,000/AC for Land,” he said. He described in mid-year as ‘hollow’, where nothing happened. “Banks slow to lend money to purchase land and this does not help,” he said.

Dundalk auctioneer, Raymond Board has a very busy year, but says that people are reluctant to bargain. “I believe public auction the best way to sell the land, transparent and efficient, and once you’ve signed a contract you are locked out,” he said.

Bureaucracy

He blames the legal bureaucracy and high expectations on the part of some manufacturers to the slowdown in sales. “It’s sometimes difficult to get all vendors agree good prices but the hardest part is waiting for the lawyers to go over contracts, they are incredibly fastidious,” said he.

Carl Fox from Ballina in co Mayo believes that the quality of land is a key factor in the purchase of land.

“If you have a good plot of land, it will sell, but the poor land is becoming harder to move. Moreover, what is significant in this part of the country is a huge decline of interest in forestry. I’m not talking about planting the earth, I’m talking about Land that is already planted in forestry. It is very difficult to sell at the moment,” he said.

Mr. Fox added that the land market did not help the banks. “They are in a hurry to give Finance for the land, waiting for a buyer is the main part of the price in cash,” he said.

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