Run of the country
Though the reductions are not as dramatic as in the metropolis, there have been considerable drops in the rural homes market, writes Caitriona Murphy
Published 22/01/2010 | 05:00
Prices for second-hand country homes fell by an average of 21.7pc in 2009, on top of an 18.4pc reduction in 2008.
Four-bedroom detached homes in the rural Dublin area fell by 21.9pc last year, while prices in the rest of Leinster fell by 22.9pc.
The same property category in Munster fell by 19.9pc and in Connacht fell by 20.8pc.
Prices for traditional cottages in rural Dublin fell by 20.4pc and by 21.9pc in the rest of Leinster. Cottage prices in Munster fell by 20pc and in Connacht by 20.4pc.
Period homes on good grounds in the Leinster area suffered the largest drop of all, falling by 27pc last year.
Prices for houses in Munster fell by 23.2pc and in Connacht, they fell by 24.1pc.
However, period properties in the rural Dublin area recorded the lowest drop in prices, at 17.4pc in 2009.
These price reductions, outlined in the latest IAVI survey, mean that exclusive country homes are now available for considerably less than they would have fetched at the peak of the market.
Attymon House, a restored and extended period home on 85 acres close to Loughrea in Co Galway, has been reduced by more than €1.23m since it first came on the market.
The 334sqm (3,600sq ft) four-bedroom main house comes with a 223sqm (2,400sq ft) converted coach house with three further bedrooms, a thatched cottage, courtyard and farm buildings and first came on the market in May 2008 with an asking price of €2.6m.
Colliers Jackson-Stops (01 6333700) are now quoting €1.365m.
Knight Frank (01 6623255) has several properties with substantially reduced asking prices. Clonmannon Lodge is a two-storey former lodge cottage that now extends to 250sqm (2,690sq ft) after the addition of an architecturally designed modern extension.
Situated at the entrance to the Clonmannon estate, close to Ashford in Co Wicklow, the property includes a kitchen/breakfast room/sitting room, drawing room, dining room, utility room, four bedrooms, bathroom and two shower rooms. The asking price has been reduced by €350,000 in recent days, bringing the asking price down from €1.2m to €850,000.
Gilltown Farmhouse, located at Beauparc, Navan, Co Meath is set on 11 acres of land. The mid 18th-century farmhouse has a large modern extension to the rear, giving it a total size of 424sqm (4,564sq ft).
It has five bedrooms and six reception rooms and has been completely restored and modernised. It first came on the market in late spring 2009 with an asking price of €1.1m for the house on 11 acres.
However, this has now been reduced to €875,000 for the house on five acres.
Rahanna House is a 658sqm (7,080sq ft) Georgian house set on 90 acres close to Ardee in Co Louth.
Originally launched on the market in 2008 with an asking price of €3.25m, the property now has an asking price of €2.3m for the house on 87 acres or €1.6m for the house on 32 acres.
The eight-bedroom property comes with an eight-stable courtyard, two lofted coach houses, farmyard, walled garden orchard and woodland walks.
Savills (01 6634350) also have several country properties for sale at substantially reduced prices.
Brownstown Stud, a 26.4-acre residential stud farm on the Curragh, Co Kildare was withdrawn from auction in 2007 at €3.4m and came on the market in April 2009 with an asking price of €2.15m but is now for sale at €1.35m.
The established stud farm includes a 560sqm (6,028sq ft) two-storey house, a 100sqm (1,076sq ft) bungalow lodge/manager's house and a 93sqm (1,000sq ft) stud office.
It also has a 14-box traditional stone stable yard with groom's cottage, a foaling yard, 32-box outer stable yard, lunging ring, all-weather ménage, schooling ring, horse walker and 4-furlong gallop.
In Co Wexford, Glaslacken, is a handsome country home close to Bunclody that extends to 258sqm (2,777sq ft) in size.
Set on 4.4 acres of land, the property originally had an asking price of €535,000 but this has been reduced to €450,000.
The four-bedroom home features a pillared portico and country cottage gardens and a kitchen garden with raised vegetable beds and an orchard.
The property also includes a stable block which is currently being used as a fuel store and workshop.
Moving to Co Clare, The Waterways is a 220sqm (2,375sq ft) home on the banks of the River Shannon at Clarisford, near Killaloe.
Surrounded by manicured gardens, the property has its own private and covered harbour that provides direct access to Lower Lough Derg and the Shannon.
There is full planning permission in place to construct a rear and first floor extension to the existing house, which includes all associated site works.
The four-bedroom home originally had an asking price of €650,000 in April 2009 but is now on the market at €535,000.