Growth in land values and transactions

43,000 acres of land was sold last year which was up by 5% on 2012. According to the Land Market Review & Outlook 2014 survey by SCSI/Teagasc, land values are steadily growing across most sectors. This reflects the demand by farmers to expand and increase productivity. In Munster the price paid per acre for farmland up to 50 acres with entitlements rose by 14.3% to €11,378. For land transacted without entitlements the average price paid was €10,313 per acre throughout the province. In contrast there was a slight drop in values for larger sized land transactions of over 50 acres down to €9,455 per acre.

In the years leading up to 2007 there was very little comparison between the rapidly rising price paid for land and the actual price paid for renting land. However the survey suggests that in recent years rental values are more in tune with sales values. In Munster average rental land values for grazing rose by 13% on 2012 to €161 per acre and €190-195 per acre paid for tillage land. For more information visit www.teagasc.ie

Motion passed by Cork County Council to reduce Local Property Tax by 15%

From this year 80% of all the property tax receipts will stay in the local authority areas from where the levies came and the remaining 20% is to go into a national pot. Each County Council has the power to vary the property tax by 15% and recently Cork County Council voted for the maximum reduction of 15% for 2015.

Writer’s whinge - The majority of Local Property Tax collected last year went towards establishing Irish Water. It’s ironic that we paid a tax in order to create another body that will heap more tax us next year.

The Irish Cottage

The Irish Cottage is iconic and literally grew out of the landscape due to the fact that most of the materials used would come from within a short distance away. Early cottages developed in the 1700’s from the single room hut without a foundation to a plan with 2 rooms around the large fireplace and an attic. Most cottages would have been finished with a thatched roof, the materials used for the thatch would depend on what was available close by. Most cottages were one room deep and it was considered bad luck not to extend lengthwise onto the dwelling. In the early 1900’s cottages evolved to the two rooms up and two rooms downstairs type with 600mm stone walls. Most cottages faced south and windows were small to keep in heat and reduce draughts. The half door was popular to allow for ventilation whilst keeping the infants in and animals out. The parlour was located to the rear of the fireplace and was not usually used but kept for visiting relations, priests, doctors etc.