London: £3.75m

The Castle, a Grade II-listed building near the Hurlingham Club, in Fulham, was built as a free school and has since been used as a school for children with tuberculosis, then as a youth club. The site, which comprises a main building with one large vaulted room and two one-bedroom lodges, went on sale two years ago for £5m. It has just been put back onto the market and comes with planning permission to develop the basement and add a conservatory, increasing the overall area to about 10,000 sq ft

Agent: Savills; 020 7731 9400, savills.com

They say: One of the most striking buildings in Fulham

We say: Making it habitable will cost at least £1m, according to the agent

Top of the drops: down 21% to £650,000

Berkshire

Fair Oak Cottage, near Thatcham, first came onto the market in April last year for £825,000. Since then, it has twice been reduced in price. The tile-and-brick property started life as a pair of farmworkers’ cottages that were knocked into one. It has two reception rooms and a study downstairs, with four bedrooms, a bathroom and a shower room upstairs. It is set in just under five acres, including 3½ acres of woodland. The bad news? The house needs considerable work: new windows, rewiring throughout, central heating, a new kitchen and new bathrooms, which, according to the agent, would cost a minimum of £100,000. He says there is interest at the moment, but below the guide price. It might be worth putting in a low offer: the vendor is “flexible”.

Agent: Jackson-Stops & Staff; 01635 45501, jackson-stops.co.uk

North Yorkshire: £995,000

Mainly Georgian, but with Victorian extensions, the Old Vicarage is a Grade II-listed six-bedroom house in Topcliffe, a pretty village five miles from Thirsk. It has three reception rooms, a library, a study and a cellar; outside are landscaped gardens of just over an acre that include a grass tennis court and a greenhouse, as well as two garages, a couple of fuel stores and a workshop with potential as extra accommodation. Nearby schools are excellent. The property last sold in 2004 for £660,000

Agent: Knight Frank; 01423 530088, knightfrank.co.uk

They say: A stunning family house in a convenient location

We say: It’s just 20ft from the main village street

Suffolk: £335,000

Part of a 15th-century hall, Oaken is a two-bedroom Grade II*-listed house with a separate studio barn/garage. Original features include medieval wall paintings and heavy timbers in the master bedroom. Long Melford was last year voted in the top 20 most sought-after villages in the UK. The market town of Sudbury is two miles away; from there, it’s 80 minutes by train to London Liverpool Street

Agent: Carter Jonas; 01787 882881, carterjonas.co.uk

They say: An exceptional and surprising village house

We say: You only get a teeny garden, and forget splashing the Farrow & Ball in the bedroom — you’re not allowed, because of those medieval wall paintings

Rental of the week

£2,800 per month

Cumbria

Dacre Lodge is an early-Victorian country house set in rolling parkland near Ullswater, just inside the Lake District National Park. The house, which is unfurnished, has a double drawing room, a sitting room, a dining room, a library, a conservatory, five bedrooms and three bathrooms. There is also a 56ft-long attic for use as a games room/storage area. Louise Rosling, lettings manager at Penrith Farmers’ & Kidd’s, admits that the rent is high for the area, but says the house is “quite special” and is attracting considerable interest. Penrith Farmers’ & Kidd’s; 01768 862135, pfandk.co.uk

Times recommends

• Second homes: credit crunch casualty or money-spinner?
• How I built my own sliding house
• Top 10 incentives for house buyers