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Sunday 31 August 2014

Almost €19m spent in first quarter on Kerry properties

Published 12/06/2013 | 05:36

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Parknadoon House. Photo: Paul Tearle
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Dónal Nolan

NEARLY €19m was spent on Kerry properties in the first three months of the year, the Irish Property Price Register reveals.

The figures, which were compiled by the Property Services Regulatory Authority (PRSA), show that a total of €18,781,941.45 was spent on houses in Kerry between January, February and March.

€132,580 is the average price of a Kerry home at present, based on the first-quarter figures.

149 properties were sold across the county over the three months. It's a significant decrease on the last three-month period of 2012 when 227 properties were sold, netting sales of over €34m; but this can largely be explained by the seasonal nature of the market with more homes traditionally being sold at year's end.

The figures also show that not a single home was sold in the Cahersiveen area in the January - March period; the only well-populated area in the county not to record a sale.

Most of the properties on the register in the period were sold in January, when €8.3m changed hands in 71 transactions.

The average price of a home in January was €118,123. The short month of February achieved the fewest sales of the period with 32 properties selling and €5.6m exchanged.

The average price in February was €176,243. €4.7m changed hands in March when 46 houses were sold, at an average price of €103,377.

The sale of Tralee's stunning Parknadoon House, once owned by Roland and Veronica Blennerhassett, achieved the highest price for the period on €1.6 million.

The property, located in the Oakpark area of Tralee, sold on February 5 and was one of only two properties to exceed the €1m mark in the period.

The second most expensive sale was in Killarney's Loreto.

A property in the fairly exclusive neighbourhood, 7 Ardagh, Loreto Road, sold for €1.4m as Kerry's only other million-busting sale.

For the first time ever, prospective sellers and buyers can get their hands on exactly what prices are being achieved in given areas thanks to the Property Price Register. It was established by the Government in the hope of bringing some confidence back to the market through greater transparency. Agents also say that it is encouraging sellers to think much more practically about the prices they can get when they can see exactly what other houses in their area are selling for.

Kerryman

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