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Is it a good time to sell your property?

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By Ted Healy of DNG TED HEALY

Recently published property outlooks are suggesting single digit growth in prices this year.

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The MyHome.ie quarterly report found the market had held up better than evidence had suggested in 2022. The number of vendors cutting asking prices remained at low levels, while many house prices were being settled above asking prices.

However, the report warned that the resilience of the housing marking is set to be tested this year. It found annual asking price inflation slowed to six percent nationwide, meaning the asking price for the average home in Ireland is now €330,000.

There were 15,000 available properties for sale on MyHome.ie in the fourth quarter of the year – an improvement on the same time last year but still below pre-pandemic levels.

Average time to sale agreed was 2.7 months nationwide which the report said is indicative of a very tight housing market.

The report said it expects to see 28,400 house completions in 2022, exceeding its previous forecast of 26,500 finished units.

The author of the report, Conall MacCoille, Chief Economist at stockbrokers Davy, said it appeared the market had held up better than evidence had suggested.

“The number of vendors cutting their asking prices is still at low levels. Also, transactions in Q4 were still being settled above asking prices, indicative of a tight market,” he said.

Recent months had seen worrying trends in the homebuilding sector, with housing starts slowing, and the construction PMI survey pointing to the flow of new development drying up.

“We still expect housing completions will pick up to 28,400 in 2022 and 27,000 in 2023. However, the outlook for 2024 is far more uncertain. The Government’s ambitious plans to expedite planning processes are welcome although, as ever, the proof will be in the pudding,” he added.

Locally, and unsurprisingly, the lack of supply of new and second-hand properties remains the dominant issue. There has been very little new construction due largely to the rising cost of construction, labour, materials and utilities which in turn is putting pressure on the second hand market.

This market proved particularly strong in 2022 with active bidding experienced on the majority of house sales and a large proportion of guide prices being generally exceeded.

The detached family home end of the market is particularly strong with increased competition for a limited number of available well located family homes.

So, what lies ahead and is it a good time to sell your property?

The answer is a tight market with scarcity of supply being a factor. If selling now you will benefit greatly from a lack of supply of available homes (therefore less competition) provided your property is marketed correctly of course!

For anyone considering placing their property on the market, contact DNG Ted Healy 064 6639000 killarney@dng.ie for genuine honest advice on how to achieve the best possible price for your home.

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Seven An Post staff retire

Seven well-known staff members at An Post Killarney celebrated retirement this week. The staff, Mary O’Sullivan, Joe Clifford, Paudie Cronin, Joe Coffey, Tom Ashe, Jerry McCarthy and Dan Murphy were […]

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Seven well-known staff members at An Post Killarney celebrated retirement this week.

The staff, Mary O’Sullivan, Joe Clifford, Paudie Cronin, Joe Coffey, Tom Ashe, Jerry McCarthy and Dan Murphy were treated to an night of celebration and reminiscing by the South Kerry branch of the Communication Workers Union of Ireland.

The retirees, their families and colleagues enjoyed an evening at ‘The Panoramic’ the newly named restaurant upstairs at Killarney Racecourse.

Ollie Favier, of the Shire fame has taken over responsibility for operating the coffee shop / restaurant at the racecourse.

“A beautiful venue and apt that Ollie’s father Dan RIP from Glenflesk, was also a long serving postman in the community,” said John O’Shea, the Union Secretary An Post Killarney.

“The night included music with Derry Healy and Rosie Healy and was attended by up to 80 people, under the attentive guidance of Sales and Marketing Manager Emma O’Connor and Ollie’s right hand man, Colin Daly

“The event the food and the atmosphere was a great success and credit to all Ollie’s staff for being great hosts. “

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Watch Video: Primary School Students share knowledge from Coffee Cup Project

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Killarney primary schools have joined the crusade against single use coffee cups this week by joining the Killarney Coffee Cup Project and declaring themselves single use coffee cup free. The Killarney Coffee Project is a community grassroots project aimed at eliminating single use coffee cups from Killarney town centre to protect Killarney National Park and the towns surroundings all in the name of conservation.

Alan Oliver, a local coffee shop owner, Lir Café, who is one of the participants of the project has said that he is “thrilled to see the project extend into the local schools. Teaching young people about why we should be moving away from a throw away culture is imperative to the continuous success of projects like this. Today’s young people are the future custodians of this town and so educating them on the importance of sustainability will ensure that Killarney and its National Park will be in safe hands for future generations.”

The schools involved in declaring themselves single use coffee cup free include Holycross Mercy, Gaelscoil Faithleann, Presentation Monastery, Glenflesk, Knocknanes, Coolick, Loreto, Lissivigeen and Tiernaboul. This follows on from the Killarney Coffee Cup Primary Schools Initiative which took place last November supported by Killarney Credit Union, the Kerry Biosphere, and the IKC3 project in MTU.

In November the 5th classes in the Killarney area were brought to Muckross School House and Killarney House for a 2-hour immersive environmental education experience around our connection to the Kerry Biosphere and citizen climate action. Here the students learned about our biosphere and how we as citizens and sustainable initiatives like the Killarney Coffee Cup Project can protect this Special Area of Conservation. Finally, they went outside to work with a park ranger, collecting acorns in leftover disposable compostable cups that the project had gathered from various businesses. They took these acorns back to their classrooms where they have planted and are caring for their oak tree. In 2024, these young oak tree seedlings will be planted back into the National Park.

The Killarney Coffee Cup Project is the 1st of its kind in the world, and it is something that belongs to all the citizens of the town. We all own this!

Want to hear from the future voices of our environment?

This week the Killarney Advertiser caught up with primary schoolers who have been busy learning all about protecting our amazing natural environment

Watch our video where the future eco-warriors share what they’ve learned about keeping our Killarney healthy and thriving! Here is to the next generation of environmental stewards!

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