Wexford property: it's still a buyer's market
Published 05/11/2013 | 05:42
PROPERTY prices might be surging ahead in parts of Dublin, but in Wexford town and district, it's still very much a buyer's market.
Prices achieved, or asked for, for two local properties show just how far down they have gone.
Both were bought by developers at the height of the boom and both have fallen in value by huge amounts of money.
'Landfall,' a large four bedroomed house at Fisher's Row with sea and estuary views has just been sold for €165,000 by auctioneers Kehoe and Associates.
The property, which has been on the market for the past two years, was previously owned by local businessman Eddie Doyle, whom it's believed sold it for a much more substantial six-figure sum to a Kilkenny-based developer at the height of the Celtic Tiger.
'Landfall' has not been occupied since.
Meanwhile, Kehoe's managing director Colum Murphy said he also has a house and almost 11 and a half acres of land, which was sold to a Dublin-based developer in 2007 for €650,000, due to go on the market over the next couple of weeks with a reserve of €75,000.
'Honeysuckle Farm' was in a dilapidated state when it sold at auction, with plans at that time for the house to be knocked and rebuilt.
No work was ever carried out and the house has been largely open to the elements over the past few years..
'Vacant and unused properties tend not to winter well,' said Colum, adding that 'Honeysuckle Farm' would suit ideally a purchaser with an equestrian interest in mind, with a large paddock extending to circa 10 acres to the rear
'Honeysuckle Farm' will be offered for sale by public auction on Thursday, November 21, at Kehoe's Auction Rooms on Commercial Quay, Wexford.