Houses are not the only property asset to be falling in value at the minute. As reported in the Irish Examiner, Leinster Express, and elsewhere Knight Frank Ireland report that the national average price paid for farmland in 2009 was €9,678 per acre, a drop of 43.3 per cent on the average price of €17,081 per acre in 2008 (excluding the Dublin, Kildare and Wicklow region). The biggest fall of prices was in the Dublin/Kildare/Wicklow region where prices dropped by 56.6 per cent, and there were no recorded farmland sales in County Dublin. Knight Frank Ireland detail that while the number of farmland sales in the midlands (Offaly, Meath, Westmeath, and Longford) rose slightly in 2009 (29) from 2008 (24), the average price dropped from €20,550 to €11,318 per acre – a drop of 45% in a single year. For small holdings of 20 to 49 acres the 2009 price was €11,298 per acre, for farmland of 50 to 99 acres, the average price was €12,167 per acre, and holdings of 100 to 199 acre, the average price was €9,246 per acre. As Knight Frank note, the one silver lining from this is that land sales are up, even if the price is down.
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