53-acre holding sells for €200,000 less than guide
The 53-acre residential holding is close to the village and was given a pre-auction guide price of €600,000 by Tom Crosse of GVM.
However, the downturn in land sale prices meant it sold for €400,000 instead.
Mr Crosse conceded that the price was disappointing, but said he was glad to get such a swift sale in the current uncertain climate.
The property included an old-fashioned farmhouse in need of repair and land of good quality but with little or no road frontage.
The €7,500 per acre average for the property is a disappointing result, not just for the vendor and agent, but in general for those selling farms.
It highlights the dismal nature of the property market at present. And while the flow of money remains stagnant, the outlook for 2009 doesn’t bode well.
