Write a commentThe volume of farm lands available for sale locally has reduced significantly as compares to the same period in 2016 although demand for well located Rural Building sites is boosting prices, according to Best Property Services mid year review.
Garry Best, MD of Best Property Services says, in terms of land sales - prices remain strong due to short supply and case in point is a recent sale of a 15 acre holding in Hilltown which exceeded £15,000 per acre.
In the Armagh area, a larger sale in the Keady locality changed hands at around £12,000/acre.
Garry said: “This year we’ve seen a huge jump in demand for building sites in well located rural areas and reaching up to £65,000 for 0.9 acre site – looking back to comparable sites 3 years ago a similar site would have struggled to reach £50,000.
“In the first half of 2016, we managed the sale of 3 holdings in the Mayobridge area varying in size from 11 – 14 acres, all with building sites. It was a keenly contested in all cases and as such the current sale of the Development ‘Treetops’ on 7.5 acres on the Ballyvalley Road, is proving interesting to some of the 2016 under bidders.”
Also on the market this summer is Rostrevor House, a period dwelling on 29 acres of land in the Rostrevor area which presents a rare opportunity to purchase a prime land holding and residence in a picturesque village setting.
