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Kerry property prices rise by €10,000 

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Property prices in Kerry have mirrored the national trend by rising during the quarter, according to the latest MyHome.ie Property Report.

The report for Q2 2022, in association with Davy, shows that the median asking price for a property in the county is now €225,000. This means prices have risen by €5,000 compared with this time last year.

Asking prices for a 3-bed semi-detached house in the county rose by €10,000 over the quarter to €195,000. This means that prices in the segment have risen by €15,000 compared to this time last year.

Meanwhile, the asking price for a 4-bed semi-detached house in Kerry fell by €2,500 over the quarter to €210,000. This price is flat compared to this time last year.

There were 338 properties for sale in Kerry at the end of Q2 2022 – a decrease of 3% over the quarter.

The average time for a property to go sale agreed in the county after being placed up for sale now stands at nearly six months.

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The author of the report, Conall MacCoille, Chief Economist at Davy, said that 2022 should be a year of two halves, with price inflation slowing down in the second half of the year.

“Double-digit inflation and sharp price gains are set to give way to greater concerns on affordability, the economic outlook and the impact of the ECB raising interest rates.”

He said that even though the slowdown has been marginal this quarter, anecdotal evidence from estate agents suggests that the momentum driving asking price inflation earlier in the year, is starting to slow.

“However, we are unlikely to see a repeat of the Celtic tiger era - as mortgage lending rules have kept the market in check. The expected rise in interest rates from the ECB, while notable, will also not have the same negative effect given the Irish market is well insulated at present.”

He said, however, that demand was still exceptionally intense, with the average time to sale agreed falling to a fresh record low of 2.6 months.

He added that average mortgage approval rate was now €283,700 – which is above Celtic tiger levels for the first time – but that the excess demand in the market meant that effectively 20% of homebuyers with mortgage approval are currently failing to secure a property each year.

“The possibility of a modest fall in Irish house prices can’t be ruled out, correcting some of the froth built-up since the beginning of the pandemic. However, double-digit declines or a repeat of the Celtic Tiger era housing crash seems very unlikely. This is because the Central Bank of Ireland (CBI) rules have stopped homebuyers taking on too much debt.”

Joanne Geary, Managing Director of MyHome.ie, said: “It is now clear that our prediction in the Q1 2022 Property Price Report, that price inflation would slow down, has been proven correct.”

She noted that rising stock levels were a cause for optimism.

“It is encouraging to see stock levels and new listings rise this quarter, albeit from a low base. However, even though we have seen somewhat of a correction, demand is still far outstripping supply and this imbalance needs to be rectified in order for normality to return to the market.”

 

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Tree of Light ceremony on Monday

The spectacular 100ft Tree of Light in Killarney, festooned with close on 3,000 lights and topped with a giant star, will again illuminate the town this Christmas with the official […]

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The spectacular 100ft Tree of Light in Killarney, festooned with close on 3,000 lights and topped with a giant star, will again illuminate the town this Christmas with the official switch-on date planned for Monday next, December 8.

The lighting up ceremony will take place after a community Mass in the adjacent St Mary’s Cathedral at 6.15pm and a short prayer service will mark the big switch-on.
The towering Tree of Light is a landmark giant Californian Redwood tree located just outside the main door of the Pugin-designed building.
The project is an collaboration between a sub-committee of Killarney Chamber of Tourism and Commerce and the Killarney parish and it creates a wonderful focal point in the town in the lead up to and during the festive season.
Killarney Parish Administrator, Fr Kieran O’Brien and Christmas in Killarney Chairman, Cllr Niall Kelleher extend a warm invitation to all community groups, schools, clubs and organisations, families and individuals to attend the special Mass next Monday evening or to visit the tree this Christmastime.
The feature star on the spectacular tree will take on an extra special meaning this year as it will be dedicated to the late Donal Grady, a long-serving local councillor and former Mayor of Killarney who worked diligently and passionately for the community.
Donal, who passed away in 2024, was a dedicated public representative who worked with great passion and a real sense of purpose on behalf of his loyal supporters.
Through his work as a long-serving chief fire officer in Killarney, he helped so many families at a time when they most needed assistance and reassurance and he brought a great sense of calm and responsibility to the position
The Tree of Light was first lit to mark the millennium year when it commemorated all those who lost their lives in the conflict in Northern Ireland and it was again illuminated in the mid-2000s to remember those who had been killed on Irish roads.
Since then the project is all about community and it celebrates the fact that Killarney is such a wonderful town to live in.
In the past, the star at the top of the tree has been dedicated to great community activists Johnny Hickey, Yvonne Quill, Paul Coghlan and Rena Kennelly.

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O’Donoghue planning National Rally Championship campaign

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Killarney’s Colin and Kieran O’Donoghue claimed victory in the Modified section of the Killarney Towers Hotel Killarney Historic Rally, delivering a controlled run in their Ford Escort Mk2 to secure Colin’s second win in the category and Kieran’s first.


At the finish ramp outside the Plaza Hotel on Saturday evening, Colin O’Donoghue confirmed he is considering a step into the Triton Showers Motorsport Ireland National Rally Championship next season.

He said he plans to travel to Mayo in March to see how the opening round suits before making a decision.

O’Donoghue set the fastest time on all nine stages to secure the win over second-placed Chris Armstrong/Conor Smith, also in a Ford Escort.


Third place went to Gary McPhillips and Conor Mohan, 17.9 seconds further back in their Escort.


The Modified section also featured the battle for the Carrick Cup, awarded in memory of Mike Gaine to the fastest Kenmare-based crew over Moll’s Gap.


This year it went to Tommy Randles/Darragh Lynch, who set the pace among the local contenders and finished 35th overall.

Randles, a long-serving club official, has hinted this could be one of his final competitive outings.


The best Kerry Motor Club crew was John Michael Kennelly / Dylan Harrington, who took fifth overall in the Modified division.

Dave Slattery / Denis Coffey continued their strong season with 13th overall (Class 6, 4th), while Hugh McQuaid and Rathmore school teacher Declan Casey placed 15th overall and sixth in Class 6.

Other locals included Seán Enright / Kevin Doherty who were Class 3 winners on the recent Thomond Rally and backed that up here with another steady finish in 26th.


Tadhg O’Sullivan /Frank Byrnes, Seán Hartnett/Kieran Doherty, Raymond O’Neill/Jason O’Connor, Cyril Wharton/Donal Falvey and Ray Stack/Gene Stack brought their Escorts home safely inside the top 40.

Gary Healy/Niall Myers, switching from a Civic to a Toyota Twin Cam 20V, took third in Class 5.


Paudie O’Callaghan/Daniel Murphy brought their Starlet home fourth in Class 4.


Noel O’Sullivan/Nicholas Burke, one of the few crews to have contested every Historic Rally since it began in 1996, finished 50th overall.


Killarney father-and-son team Tom and Mark O’Sullivan completed the demanding event in their Peugeot 205 GTi.

Representing Kerry Motor Club, Ken McKenna / PJ O’Dowd reached the finish in their Peugeot 205.

Kevin O’Donoghue / John McElhinney used Super Rally to return to the stages after mechanical trouble, as did Kenmare’s Shane McCarthy / Eamonn Creedon who were among several crews targeting future Carrick Cup success and completed their Honda EG6’s run under Super Rally as well.

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