First quarter house sales down 8% in Kerry…

PROPERTY sales were down 8 percent in Kerry for the first quarter of 2017 according to latest analysis by the online property website, MyHome.ie. While the Property Price Register for Q1 showed a 5 percent rise in sales nationwide, Kerry has seen a drop in its 2016 Q1 figure (289) for the same period in 2017 (265).

Just over 10,000 properties changed hands in the first three months of 2017 with sales in Dublin accounting for roughly a third of this total (3,407). The Q1 increase for Dublin is 5.7 percent with a steady increase also in commuter belt counties. However, the story is different in the western and southern counties with record falls in sales recorded.

“While sales may be up in the commuter belt and most other parts of Leinster, it’s a very different story in the west and south. Sales in Donegal are down 21%, in Sligo its 8% and in Mayo it’s 17%. Further south they are down 16% in Limerick and 8% in Kerry,” said Angela Keegan, Managing Director of MyHome.ie.

Ms Keegan added: “These figures show that the Irish property market is no longer just Dublin and the rest of the country but has fragmented into a number of micro markets which move in response to a variety of local and national factors. We’re all aware of the shortage of properties in Dublin and the resulting higher prices, so it’s clear buyers have decided – or have been forced – to opt for more affordable properties in neighbouring counties. While often the properties outside Dublin are bigger and newer the downside is the commute.”