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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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Trilogy of comedy on offer by Dóchas Drama

By Sean Moriarty Dóchas Drama Group will present a series of three short comedy plays next week. All three plays are written and produced by Dóchas and will be acted […]

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By Sean Moriarty

Dóchas Drama Group will present a series of three short comedy plays next week.

All three plays are written and produced by Dóchas and will be acted out by the group’s members.

The opening act, ‘Flossing Around’ is written by Ger Madden and directed by Brian Bowler.

“A woman has an innate fear of the dentist. We go on the journey with her as she faces her fears, with hilarious consequences,” explained the group’s Liz Ryan.

This will be followed by ‘Faraway Hills’ which is written by Mary Quirke and directed by Michael Mills.
It is a tongue in cheek look at family life.

“A son wants to get away from small town life. His mother wants to keep him at home but his father can’t wait to see the back of him,” added Liz, who plays the mother in this short play.

Brain Bowler wrote the third instalment called ‘A Little Visitor’ which is directed by Ryan Jones.

“There are lots of misunderstandings when a hypochondriac visits a group of doctors who have other things on the their minds,” added Liz.

The run, which will feature all three performances each night, starts Wednesday next week and continues Thursday and Friday (February 8 to 10) at the Killarney Avenue Hotel. Tickets are €10 and are available at the door.

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Killarney secures three gold medals in national business awards

Three hotels in Killarney have won gold medals at the Virgin Media Business Gold Medal Awards. Now in its 33rd year, the awards the best of the best in the […]

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Three hotels in Killarney have won gold medals at the Virgin Media Business Gold Medal Awards.

Now in its 33rd year, the awards the best of the best in the hotel and catering sectors across the country.

This year, judges received over 460 entries from 150 hotels, guest houses, country houses, restaurants, cafés, bars and catering companies from around Ireland.

“An important factor in the Gold Medal Awards is the credibility and impartial nature of the judging process. Every property that undergoes this process is subject to benchmarking against a strict set of criteria and a blind site inspection conducted by the judging panel,” said an event organiser.

“This panel comprises respected industry experts from across the hospitality, culinary and catering sectors.”

Three Killarney hotels took top awards in different categories at the awards ceremony held at the Galmont Hotel and Spa in Galway on Tuesday night.

The Great Southern Hotel was named as the best Business and Conference Hotel in Ireland.

“To be recognised among the greatest hotels in Ireland is a marvellous achievement for Great Southern. It is fantastic news and has provided all our staff with a little morale boost. Our Business & Conference partners and customers are extremely important to us with some relationships in place annually for over 30 years. Receiving this recognition for the service we provide is a fantastic achievement and testament to the incredible work of our outstanding staff,” said Michael Jacobi Managing Director said.

The best front of house team award went the staff at the Aghadoe Heights Hotel and Spa.

In the Hotel Casual Dining Experience category the Dunloe Hotel and Gardens came out on top.

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