The price of good quality farmland in Mayo remains among the highest in the Connacht/Ulster region, but there is good news regarding the development in recent years.

Farmland prices across Ireland are projected to rise by an average of 6% in 2025, according to a major new report by the Society of Chartered Surveyors Ireland (SCSI) and Teagasc.

The Agricultural Land Market Review and Outlook Report 2025 also forecasts a 7% increase in national land rental prices, reflecting strong demand from dairy farmers and a continuing scarcity of land for sale.

The report based on a national survey of 169 auctioneers and valuers conducted earlier this year highlights the growing influence of recent policy changes, including adjustments to Ireland’s Nitrates Action Programme, which are pushing some farmers to acquire additional land to meet new environmental thresholds.

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Farmland in Mayo

The price of good quality farmland in Mayo remains among the highest in the Connacht/Ulster region, despite a slight year-on-year decline, according to the latest SCSI/Teagasc Agricultural Land Market Review and Outlook Report 2025.

The survey found that in 2024, the average price of an acre of good quality land on holdings under 50 acres in Mayo was €10,600. This was a small drop from €10,850 in 2023.

Despite the decrease, Mayo retains its position as the second most expensive county in the region for such land, trailing only Donegal, where the price reached €13,280 per acre.

Galway and Monaghan followed closely behind Mayo in terms of land values for similar holdings.

For poor-quality land on holdings under 50 acres, the average price in Mayo last year was €3,940 per acre.

The report also provides detailed pricing across different holding sizes. In Mayo, Good quality land on holdings of 50 to 100 acres averaged €8,080 per acre.On holdings of over 100 acres, the average dropped to €4,625 per acre. Poor quality land on holdings between 50 to 100 acres fetched an average of €3,630, while on holdings over 100 acres, it was €3,075—the lowest in the country.

Projection for dairy farms

Gerard O’Toole of O’Toole & Co in Westport, who is Vice President of the SCSI, says land prices are being driven by a continued low supply of land to the market and demand across major sectors for agricultural outputs including a thriving dairy sector.

“Dairy farms are projected to have a robust 2025 and will continue to significantly influence demand,” says O’Toole. “Over three-quarters of respondents identified dairy farmers as the primary buyers of agricultural land.”

Teagasc economist Dr Jason Loughrey noted the continued recovery in farm incomes following a difficult 2023, citing Milk prices as climbing by 16%, Lamb prices up 18% and Cattle prices growing by 4.5%.

This strong performance is expected to continue into 2025. However, Loughrey warned of global risks including new U.S. tariffs on EU agri-food products, which could undermine export values and introduce volatility into the land market.

“The imposition of 10% tariffs on Irish butter exports to the U.S. is concerning,” he said.  “The prospect of a trade war is affecting exchange rates and could limit economic growth in key markets.”

The recent weakening of the U.S. dollar has also reduced the euro value of Irish agri-food exports, although it may lower import costs for key inputs like feed and fertiliser.

This year’s report includes a dedicated section on generational renewal, highlighting that the average age of Irish farmers is 59, with just 4.3% under the age of 35. The low volume of farmland entering the market is attributed to cultural norms, taxation, and succession planning barriers.

“Land mobility continues to be a major challenge,” said Dr. Frank Harrington, Chair of the SCSI Rural Agency Committee. “We need policy reform, especially around taxation, to encourage land sales and support younger farmers entering the sector.”

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