Price of Farmland in Tuam Co Galway

[SwimmingFish]

Posted in correct section now - sorry I ama new user!

Hello
I really hope someone can give me a current price of farmland in Tuam Co Galway. The farm is 34.12 acres in total, I am unsure of its condition but it is currently rented out as working farm land and has a stream running through it so can't be in terrible condition.
I have been told it could sell for anything from £8000 - £20,000 per acre, this seems such a big difference! I have also been told it is rapidly going down in value.
Can anyone help?
Thanks!!

 

[Teatime]

Re: Price of Farmland in Tuam Co Galway - in correct section!

Land around Tuam is fairly decent and flat. Two years ago I would guess 10k per acre but now I personally would hope to get it for 5k-7k. Tyrrells auctioneers in Tuam would have a good idea.

 

[mercman]

Re: Price of Farmland in Tuam Co Galway - in correct section!

Tyrrells auctioneers in Tuam would have a good idea.

Eh but really sorry I don't think so.

I've just finished reading an economic report from Teageasc on Farming and on Farm Incomes. In reality even at the suggested lower prices land is still overvalued by 33 %.

 

[declanja]

Land has always sold for more than its economic value, especially if it is near a town and has more than one farmer interested. Dont forget the Bull McCabe in The Field!!!

Many farmers have recently got good money from the NRA for the new roads and have tax advantages in repurchasing.

 

[Commercial]

It all depends on the land. If it is boggy or god dry agricultural land. Around Tuam it can be boggy. It might have road frontage which would give it greater value. There are so many variables as regards land it is impossible to put a value on it from the OP.
In Tuam the new road is going to come within the next few years. It could improve the values of the land in the area.
I would just take into account all of the variables and not to forget the recent flooding and if this affected the land.