Agricultural land prices slowed in the first quarter of 2005, new data from the Central Statistics Office has revealed.
Although the average price paid per hectare of agricultural land was 5.2 per cent above the same period in 2004, it was 11.8 per cent below the "exceptionally high" figure for the last quarter of 2004. Preliminary figures for January to March 2005 showed the average price per hectare was €16,230, compared to €18,406 for October to December 2004.
The most expensive land last year was located in Kildare, Meath and Wicklow, where prices averaged €22,426, while the border counties emerged as the cheapest, at an average price of €13,038 per hectare.
However, the Mid East counties had the lowest number of land sales, while the lower priced border counties and the Western region had the highest.
The CSO said that allowances should be made for the fact that only a small amount of land is sold on the open market each year.