House prices down 40 per cent since boom
A NEW survey of property prices in the county has confirmed that houses in Kerry have lost almost half their value since the onset of the property crash.
According to the new survey published by property website MyHome.ie the average price for a four bedroom semi-detached home in Kerry is now €188,000 with an average three-bed semi in the county now selling for just €147,000. This represents a fall of 40 per cent from values at the peak of the housing boom.
Prices of four bed semis in Kerry fell by 7.7 per cent in the last three months of 2012 while three-bed semis saw a 5 per cent decline in their prices in the same period.
There is some good news in the survey for those trying to sell their homes or other properties. The survey reveals that the number of property transactions in 2012 was up 15.4 per cent on the previous year. Across Munster the typical time frame between placing a house on the market and finding a buyer is now an average of 10.5 months.
The author of the report, Caroline Kelleher from DKM Economic Consultants said the outlook for the property market remains uncertain with further volatility in prices likely in 2013.