Tuesday 25 July 2017

Price Guide: Kerry

The average price of new and second-hand homes in Kerry fell by 10pc and 6pc over the last four months, although there was a significant variation in the rate of decline across different property types.

Apartments and townhouses experienced a significantly greater fall in percentage terms relative to semi-detached and detached houses. Four-bedroom semi-detached houses actually recorded higher prices since last April, with new homes 1pc higher and second- hand homes 8pc higher.

Meanwhile, agents noticed a sales decline during the summer and most do not expect any improvement over the next six months, although they are slightly more optimistic over a 12-month timeframe.

One agent believes there is a large number of people wanting to buy, but are unable to do so due to the lack of available mortgage finance. Activity in the larger urban areas such as Tralee and Killarney appears to be steadier than in the rest of the county. One Killarney agent says that it takes approximately eight weeks to get a sale agreed, which is a very favourable turnaround time.

Sales are being achieved for good quality three and four-bed semi-detached homes that are priced to sell.

However, agents in the south and south west of the county are experiencing a more challenging market and say it can take up to six months to get a sale agreed.

A large volume of unsold stock, particularly three-bed units, are proving difficult to shift.

A Castleisland agent says that despite many people believing prices have now reached a fair level, further price reductions are possible due to the lack of bank funding for mortgage finance. First-time buyer civil servants appear to be the only applicants who are successful in borrowing from the banks.

New One-Bedroom Apartment

August-2010: €90,000

April-2010: €110,000

Peak Price: €140,000

Change Aug v Apr: -18pc

Change Aug-2010 v Peak: -36pc

Second-hand One-Bedroom Apartment

August-2010: €70,000

April-2010: €86,700

Peak Price: €123,000

Change Aug v Apr: -19pc

Change Aug-2010 v Peak: -43pc

New Two-Bedroom Apartment

August-2010: €105,000

April-2010: €138,000

Peak Price: €175,000

Change Aug v Apr: -24pc

Change Aug-2010 v Peak: -40pc

Second-hand Two-Bedroom Apartment

August-2010: €90,000

April-2010: €102,000

Peak Price: €155,000

Change Aug v Apr: -12pc

Change Aug-2010 v Peak: -42pc

New Two-Bedroom Townhouse

August-2010: €115,000

April-2010: €148,000

Peak Price: €170,000

Change Aug v Apr: -22pc

Change Aug-2010 v Peak: -32pc

Second-hand Two-Bedroom Townhouse

August-2010: €100,000

April-2010: €125,000

Peak Price: €158,000

Change Aug v Apr: -20pc

Change Aug-2010 v Peak: -37pc

New Three-Bedroom Townhouse

August-2010: €130,000

April-2010: €168,000

Peak Price: €205,000

Change Aug v Apr: -23pc

Change Aug-2010 v Peak: -37pc

Second-hand Three-Bedroom Townhouse

August-2010: €120,000

April-2010: €150,000

Peak Price: €193,000

Change Aug v Apr: -20pc

Change Aug-2010 v Peak: -38pc

New Three-Bedroom Semi-d

August-2010: €171,700

April-2010: €175,000

Peak Price: €230,000

Change Aug v Apr: -2pc

Change Aug-2010 v Peak: -25pc

Second-hand Three-Bedroom Semi-d

August-2010: €161,700

April-2010: €162,000

Peak Price: €223,000

Change Aug v Apr: 0pc

Change Aug-2010 v Peak: -27pc

New Four-Bedroom Semi-d

August-2010: €212,500

April-2010: €210,000

Peak Price: €283,000

Change Aug v Apr: 1pc

Change Aug-2010 v Peak: -25pc

Second-hand Four-Bedroom Semi-d

August-2010: €197,500

April 2010: €183,000

Peak Price: €253,000

Change Aug v Apr: 8pc

Change Aug-2010 v Peak: -22pc

New Four-Bedroom Detached

August-2010: €255,000

April-2010: €283,000

Peak Price: €398,000

Change Aug v Apr: -10pc

Change Aug-2010 v Peak: -36pc

Second-hand Four-Bedroom Detached

August-2010: €217,500

April-2010: €247,000

Peak Price: €378,000

Change Aug v Apr: -12pc

Change Aug-2010 v Peak: -42pc

New Five-Bedroom Detached

August-2010: €280,000

April-2010: €308,000

Peak Price: €433,000

Change Aug v Apr: -9pc

Change Aug-2010 v Peak: -35pc

Second-hand Five-Bedroom Detached

August-2010: €265,000

April-2010: €268,000

Peak Price: €425,000

Change Aug v Apr: -1pc

Change Aug-2010 v Peak: -38pc

Irish Independent

Promoted articles

Editors Choice

Also in Life