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Kerry house prices expected to fall by 5% in 2023 – survey

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The price of the average three-bed semi in Kerry is expected to fall by 5% in the next 12 months, according to a survey by Real Estate Alliance.

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Three-bed semi-detached homes in the county now cost an average of €292,500, up 11% on the December 2021 average of €263,000, the Q4 REA Average House Price Index shows.

However, average house prices have fallen by 2.5% in the past three months as mortgage interest rate rises and cost of living increases combine to calm the market.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide.

First time buyers made up 35% of the market in Kerry in Q4 2022, with 35% of sales coming from outside the county.

Across the county, the average time taken to sell was eight weeks, up from six in Q3.

Average Killarney prices fell by -2.78% this quarter to €350,000, while Tralee prices dropped by 2% to €235,000.

“The market has slowed with the number of viewings down 30%. House prices have softened a small bit but are still selling,” Donal Culloty of REA Coyne and Culloty, Killarney said.

“There still is a huge demand problem as no new developments are commencing due to high land prices and the cost of construction.

CRISIS LEVEL

“The housing problem is now at crisis level and only going to get worse. We need new properties to be built.”

The majority of REA members feel that the scheduled changes to the Planning Acts will have little effect on market supply in 2023, due to the time lag between legislation and enactment.

The actual selling price of a three-bedroomed semi-detached house across the country rose by 0.36% over the past three months to €291,667 – representing an annual increase of 8%.

However, house prices in Dublin have fallen slightly by -0.34% in the same period, as mortgage interest rate rises and cost of living increases stem the stream of potential homeowners.

REA agents throughout the country expect prices to rise by just under 3% on average in the next 12 months.
The property market is expected to enjoy a calmer 2023 as mortgage interest rate rises and cost of living increases affect buying ability, according to the nationwide survey.

In Dublin city, which is currently experiencing small price drops in certain areas, agents anticipate modest increases of 3.6% across the year.

This comes off the back of 2022 which saw average house prices rise by 8% nationally and 5% in the capital – with feverish early year increases slowing down in the autumn and winter.

The country’s large towns experienced 10% growth last year, with 1.2% in the final quarter, and REA agents say that this will continue throughout next year, albeit at a slower pace, with growth of 3% predicted.

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New Sunday date for 30th anniversary Historic Rally

The Killarney Towers Hotel Killarney Historic Rally will move to a new Sunday date for its 30th anniversary running. The event is scheduled to take place on Sunday, November 29, […]

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The Killarney Towers Hotel Killarney Historic Rally will move to a new Sunday date for its 30th anniversary running.

The event is scheduled to take place on Sunday, November 29, marking the opening round of the 2027 Irish Tarmac Rally Championship Historic category.

Five-time World Rally Championship event winner Paul Nagle will spearhead the event as Clerk of the Course. The appointment carries personal significance, as Nagle is the son of the late Maurice Nagle, the original founder of the rally.

The first Killarney Historic Rally was organised by Maurice Nagle in December 1996, shortly after the international Rally of the Lakes moved to its permanent May Bank Holiday weekend slot. Having served on the organising committee for the old winter Rally of the Lakes, Maurice maintained that Killarney had the capacity to host a motorsport event during the winter period. Over the last three decades, it has grown into Ireland’s only dedicated event for historic rally machinery, where an overall victory is as coveted as a win at the international event in May. “Taking on the role of Clerk of the Course for the 30th anniversary is a massive honour, but more importantly, it is an opportunity to protect and build upon the legacy my father left behind,” said Paul Nagle. “He believed that Killarney’s classic stages were the perfect arena to showcase historic cars, and he fought hard to establish this. Reaching 30 years of Ireland’s only dedicated historic rally proves his vision was right. We are fully committed to making this anniversary edition a special event that honours his memory and celebrates the history of historic motorsport.”

Nagle has promised a return to the classic Killarney tarmac that defined the event’s early years, confirming that stages such as Ballaghbeama Pass and Caragh Lake will feature on the itinerary for the Killarney Towers Hotel Killarney Historic Rally. Since retiring from professional co-driving in 2023,

Nagle has worked as an FIA Safety Delegate on several World Rally Championship events. Work is now underway to secure a strong field of historic rally cars, with some star names expected to join the Irish Tarmac Rally Championship regulars on the entry list. His experience in event management, combined with his international contacts, is currently being used to attract an expanded entry list. A promotional push is underway to secure a large field of historic rally cars, including several drivers from overseas. The event retains the title sponsorship of the Killarney Towers Hotel and Leisure Centre, located on College Street in the centre of Killarney town. The hotel’s town centre location is highly favoured by rally fans who return each year, having proved to be a popular base since the hotel first took on the role in 2023.

Managing Director of the O’Donoghue Ring Collection and Killarney Towers Hotel and Leisure Centre, Gemma Ring commented: “We are incredibly proud to continue our partnership with the Killarney Historic Rally as we enter our fourth year as title sponsor. This year’s event is especially significant as the rally celebrates its 30th anniversary, a remarkable milestone for one of Ireland’s most iconic motorsport events.
At the O’Donoghue Ring Collection, we have always been passionate about supporting events that showcase the very best of Killarney. The Historic Rally brings together competitors, enthusiasts and visitors from across Ireland and beyond, creating a fantastic atmosphere throughout the town while making a valuable contribution to our local businesses and community.
Congratulations to Killarney and District Motor Club and everyone involved in reaching this incredible 30-year milestone. We look forward to welcoming participants and spectators once again and wish everyone a safe, enjoyable and memorable weekend.”

Full route details and regulations for the Killarney Towers Hotel Killarney Historic Rally will be released by the Killarney and District Motor Club in the coming months.

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Rathmore’s Tearmann Lodge raises €1,200 for Kerry Hospice

The staff and residents at Tearmann Lodge in Rathmore recently came together to raise €1,200 for the Kerry Hospice Foundation . The facility, which is run by the Kerry Parents […]

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The staff and residents at Tearmann Lodge in Rathmore recently came together to raise €1,200 for the Kerry Hospice Foundation

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The facility, which is run by the Kerry Parents & Friends Association, hosted a successful bingo evening and raffle in late March of this year. This follows a similar fundraising event held at the centre in 2024.
Residents at the lodge were encouraged to participate in the evening, which proved to be a highly positive and enjoyable experience for everyone involved.
Tearmann Lodge Manager Gillian Kenny facilitated the fundraiser, while staff member Irene O’Donoghue acted as the main organiser, with assistance from colleague Karen McCarthy and other members of the team.
The residential facility provides accommodation for nine residents, alongside an extra bedroom used for respite care when needed.
“Kerry Hospice would be close to the hearts of many here, both residents and staff, whose loved ones have benefitted from the services provided by the charity. We are delighted to be in a position to give something back in return,” Irene O’Donoghue said.
Pat Doolan of the Killarney Branch of Kerry Hospice expressed his gratitude to everyone at the centre during the official cheque presentation.
“This was another lovely gesture by all concerned and I want to thank them for their generosity. I spent some pleasant time over a cuppa with residents and staff members in the comfortable surroundings at Tearmann Lodge on the day of the cheque presentation. Esther Kelleher, who is a resident at the centre, entertained us with a lovely song,” Pat Doolan said

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