Land prices grew 5% in 2024 along with buyer confidence, according to a new report from the Irish Farmers Journal.

The Irish Farmers Journal Agricultural Land Price Report is a comprehensive analysis of the land market across the island of Ireland - now in its 18th year.

The report examined 95,711 acres placed for sale in 2024, up from 66,778 acres in 2023.

An increase of 5% was recorded in the price of land in the Republic of Ireland to an average of €12,515 per acre.

This shows an increase of €590 per acre from €11,925 per acre in 2023.

The highest land prices were in Dublin where the average was €25,490 per acre, followed by counties Wexford, Meath, Louth and Laois.

The biggest increase in price was in County Meath, where the average rose from €17,669 per acre from €14,321 per acre.

Derelict abandoned old irish cottage in county sligo. Image: Alamy

The lowest average land price last year was in Co Leitrim at €6,419 per acre followed by Mayo and Donegal.

Farmland prices in the North of Ireland continue to be significantly higher than the Republic, with prices rising by 6.8% last year to average ?14,736 (€17,406) per acre.

Derelict houses can now add €100,000 or more to land sales, depending on how strict the local county council is with planning permission.

The Irish Farmers Journal noted that this year’s report has a notably huge variation in prices paid for land across the country.

Irish countryside view, Cashel, Ireland. Image: Alamy