More price hikes and limited supply the stark message from latest MyHome.ie report...

KERRY house prices have risen by €5,000 in the first quarter of 2018 according to the latest property report from MyHome.ie. The trend of ever escalating house prices and limited supply is by now a regular feature of practically all quarterly and yearly reports across the property sector.

MyHome.ie reported that latest increases reflected a rise in the asking price for a 3-bed semi-detached home in the county, which rose by 1.6 percent in the last quarter - up €2,250 to €145,000. It also reported that a 7.4 percent increase, year-on-year, in relation to 3-bed semis in Kerry, now an incredible €10,000 higher than this time in 2017. This means prices for a 3-bed semi-detached home in Kerry is now at its highest level in five years.

Meanwhile, the MyHome.ie added that the price of a 4 bed semi-detached home in the county has also had the largest percentage increase nationally for this house type. A 10 percent increase in the first quarter means prices have escalated by €17,000 since the end of 2017 to €187,000. Moreover, this is contributing to an annual increase of 27.7 percent with prices now €40,500 ahead of this time last year when they stood at €146,500. This has left prices for a 4-bed semi in Kerry at their highest level in four and a half years since Q3 of 2013.

Lastly, the report found the number of properties for sale in Kerry on MyHome.ie is also down by 21.9 percent in the past year with stock levels nationally remaining a serious problem. However, prices for a two bed apartment dropped by roughly 14 percent to just over €119,000.