On the market now for €200,000 - but sold in 2007 for €670,000

IT'S CERTAINLY a sign of the times and a dramatic illustrationof the slump in property values since the peak four years ago.

A farmhouse sitting on 11.4 acres only a couple of miles from Wexford town is on the market at €200,000, €470,000 less than it sold for in 2007.

Colum Murphy, managing director of auctioneers Kehoe & Associates, said Honeysuckle Farm at Hayestown is in need of complete modernisation but was well located with all amenities close by.

Colum said he sold the property at the height of the market in September 2007.

'It was sold at public auction, and in the run-up to the auction we had in excess of 100 viewings. Then there was a full house at the auction and dozens of bids. It was sold under the hammer at €670,000,' he said.

'Back to the new values in the Irish property market 2011, and we have now instructions to offer the property with an asking price of €200,000. It is now for sale by private treaty,' he added.

Colum said Honeysuckle Farm would ideally suit a purchaser with an equestrian interest in mind, as the large paddock extends to c. 10 acres to the rear.

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