The price is right as development at The Woods reflects changed market

TWO years on, and not only has the penny dropped about local property pricing and comparative values, but the market overall has dropped too.

Back in March 2007, houses at The Woods, Glounthaune in Co Cork were launched with prices from an eyebrow-raising €1 million, for a 2,100 sq ft detached four-bed, to €500,000 for a two-bed, 1,200 sq ft lodge/apartment.

Developers of The Woods were Diamond Rock, mainly Dublin based, and perhaps their sense of house values were more east coast than east Cork. They’d bought the costly 12-acre site in 2006 from local development firm, MurrayForde who’d got the planning.