Dingle and Kenmare buoy up Kerry average
THE MARKET KERRY relies heavily on tourism so the county is feeling the pinch from Brexit in tourism terms and in the holiday home market. Those who may have been considering investing in the county from the UK are now sitting on the fence and waiting to see what the future holds.
Locations like Dingle and Kenmare are still very popular with buyers from Dublin though, as is Waterville on the Iveragh Peninsula.
Darragh Ó Sé from Property Partners Daly Ó Sé saw a rise in property values in the county of 6pc in 2018, but is keen to point out that prices differ hugely in the county. The average price for a three-bed semi for the county as a whole is €170,000. This price could rise to €260,000 in Dingle or fall to €150,000 in parts of Tralee.
There’s little being built in Kerry apart from a few small new developments in Dingle and oneoff houses. Ó Sé believes that the demand is there for new homes but the margin isn’t where it needs to be for the builders just yet. Ó Sé has also noticed that there is an increasing demand for social housing in the county because many can’t get the financing for a mortgage.
People trading up and trading down were the most active in the market in 2018. Families are looking for houses with a bit of space around them, while older couples with an empty nest don’t want the hassle of the big garden anymore and want to be close to the facilities in towns.
The average price for a detached 2,000sq ft home being sought by these growing families is €390,000.
First-time buyers who are keen to get a foot on the market are coming to viewings very prepared. “They don’t jump at the first option anymore,” notes Ó Sé. “They do a lot of research online about prices and planning, and know the market and wait for the right home to come along.”
The ex-council houses are popular with these buyers are they are near the town and prices are still low. A three-bed is €110,000, but Ó Sé predicts this will rise by 27pc over the next year to €140,000. The overall forecast for the county in 2019 is a rise in values of 13pc.