The starting point
A price per acre is a ratio, not a complete valuation method. Before using it, establish what was sold, when, on what terms and with which buildings or rights. Then compare the actual holding, rather than treating every acre as interchangeable.
Start with the numerator as well as the acres
A reported sale figure may include a farmhouse, yard, outbuildings or more than one parcel. Dividing that total by acreage does not isolate the value of bare agricultural land. Even where there are no buildings, the reported figure and the area need a reliable basis.
I would first ask what evidence we actually have: a completed transaction, an asking price, an auction guide or an account passed on locally. Those are different pieces of information. A comparison should not become more certain each time it is repeated.
Compare the holding, not the headline
Imagine two fictional ten-acre parcels. One is a continuous field with an established entrance. The other is split into small pieces and depends on an access arrangement that has not yet been clarified. Equal acreage does not make them equivalent. This is an illustrative comparison, not a valuation or a claim about a particular sale.
A useful working note records the date, location, area, buildings, occupation, access and terms known for each comparison. Unknown details should remain visible. RICS guidance on comparable evidence provides a framework for assessing the relevance and quality of evidence (RICS, 2023).
A local buyer’s circumstances are not universal
An adjoining owner may see a practical advantage in a particular parcel. That does not mean every similar-sized parcel commands the same result. Nor should a reported exceptional price automatically be dismissed; the task is to understand the transaction and its relevance.
Ask what made the asset useful to the market at that time. Contiguity, configuration and the relationship to other land can be worth investigating. The explanation matters more than a confident phrase such as “that is what land is making”.
Keep the area and the rights clear
Establish the source of the acreage and the interest being valued. A marketing plan, a physical fence and a registered title plan serve different purposes. Tailte Éireann’s mapping guidance explains the non-conclusive nature of mapped boundaries (Tailte Éireann, 2024, section 2). Refer questions about title or rights to the solicitor, and survey questions to the appropriate specialist.
If there are leases, licences or grazing arrangements, disclose them. An assumption about vacant possession should be explicit and appropriate to the brief.
Put the comparison back into the instruction
For a sale, the analysis informs a reasoned marketing strategy. For succession, a family arrangement or an estate, the adviser may require a formal opinion at a specified date. The same headline comparison does not automatically answer each question.
My suggested first step is simple: put the property plan beside the purpose of the report. Identify what is included and what remains uncertain. Then ask how the evidence supports an opinion about that particular interest.
References
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Royal Institution of Chartered Surveyors (RICS) (2023) Comparable evidence in real estate valuation. 1st edn, originally published 2019; reissued 2023. Available at: Comparable evidence in real estate valuation. 1st edn, originally published 2019; reissued 2023 (Accessed: 1 November 2026).
Tailte Éireann (2024) Practitioner’s Guide 2024: Mapping procedures for first registration, subdivisions and rights over registered property, section 2. Available at: Practitioner’s Guide 2024: Mapping procedures for first registration, subdivisions and rights over registered property, section 2 (Accessed: 1 November 2026).
Further reading
Wyatt, P. (2022) Property Valuation. 3rd edn. Wiley-Blackwell. Edition, context & purchase links View / buy at publisher
Books listed for further reading have not necessarily been consulted in full. See the reading room for the basis of each recommendation.
General information for Irish property matters. The requirements of a particular instruction should be discussed with the appropriate professional. Editorial approach and source policy.
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