Leasing market ‘flying it’ in West

A COMBINATION of limited land availability, dairy expansion plans and young farmers seeking to match land with entitlements are the main drivers of a buoyant leasing market in the West of Ireland, according to one of the region’s leading land auctioneers.

Ballinasloe based auctioneer, Joseph Naughton, told the Farming Tribune that despite the difficult weather conditions of recent weeks and months, there was a very strong interest in leasing, although trends had altered over recent years.

“What we are seeing is a lot more interest in longer-term lease deals from five years upwards especially from young farmers who prefer the lengthier deals to carry out improvement works on the land.

“At the end of the day there’s more demand for land than there is land available and that will always drive the market – as for prices it goes back to land quality and the availability of facilities,” said Joseph Naughton.

He added that a typical range of prices per acre fell between the €160 and €220 mark with the higher prices achieve where the quality of the land was good, there was adequate fencing in place and good handling facilities.

“Leasing has become increasingly popular over recent years – and especially for the longer rental periods – with advantages on both sides for the person taking on the land and for the person renting.

“Some farmers are at or approaching retirement age and see the prospect of a guaranteed income from their holding for a lengthy period as very appealing,” said Joseph Naughton.

For more, read this week’s Connacht Tribune.

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