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Wexford house prices dropped to among the cheapest in country

WEXFORD house prices have fallen to levels which make them among the cheapest in the 26 counties. For instance prices for detached houses in this sunny south-eastern county have fallen to an average of €163,000 which ranks as low as 20 in a price league for all 26 counties.

In Wexford those house types fell 53pc compared to a national average fall of 46pc as similar houses nationally average €224,997.

These are among the latest findings in a survey by the Institute Professional Auctioneers and Valuers (IPAV).

Four-bedroom semi-detached houses in the county are not suffering as badly relative to other segments of the Wexford market. While this house type has seen its price fall by 52pc to €144,000, this is the 13th highest price in the country for this house type.

Three-bedroom semis have fallen 57pc from peak to an average of €114,000 or 19th in the IPAV national house price league.

One-bedroom apartments in the Model County have fared much worse -- falling 68pc to €47,000 and two-bedroom flats are down 66pc to €64,000 with both of these ranked 22 in the national survey.

On the other hand Colum Murphy, of Kehoe & Associates, a member of the Society of Chartered Surveyors Ireland, reports that activity levels have improved since last year as demand has improved for good quality residential property.

"The first three months of 2012 has seen the smallest decline in asking prices for five years. This, combined with the reducing number of properties for sale in the county, is helping to stabilise the market. There is a pent-up demand out there, conditions are favourable and it very much remains a buyer's market.

"House prices in County Wexford have dropped every month since February 2007, that's 61 months; it can't continue for many more," Mr Murphy says.

Among the properties his firm is currently selling is Barrystown, Wellingtonbridge, a four-bedroom house with three en suites which has a €550,000 price tag.

Overlooking Bannow Bay, it is laid out over three levels and extends to 415sqm.

Near the village of Castlebridge, a four-bedroom house on an acre is for sale with the same agent for €335,000. known as 'The Old Pitch', Glasganny, its accommodation extends to 259sqm.

About four miles from Wexford Town, Kehoe also have a six-bedroom house; Garrylough, Screen, is a spacious 318sqm house on an acre with a €395,000 price tag.

Meanwhile, near Bunclody, a spacious granite house known as Ravenswood Lodge stretches to 165sqm with three bedrooms on a 0.75 acre landscaped site and its agents, Warren Estates, are asking €269,000.

A four-bedroom detached bungalow, 2 Ballinroad, Oulart, Enniscorthy, will go for sale at Merlin's Dublin auction on May 22 and its guide is €200,000.

Near Gorey the imposing six-bedroom Georgian house, Hyde Park, offers an opportunity for a holiday home business.It comes with six houses which could provide guest accommodation, a courtyard, woodland and 12 acres. Colliers International is asking €675,000 for it.

Indo Property