A Killarney estate agent has warned of a looming property crisis in the town.
Donal Culloty of Coyne & Culloty estate agents in Killarney said there are no new housing developments coming on stream and there’s a massive supply issue.
The latest Irish Independent REA Average House Price Index shows house prices in Killarney rose by 3.7% to €280,000 in the first quarter of this year.
It’s now taking six weeks to sell an average three bed semi in Killarney with around seven buyers for each property that comes on the market.
Coyne & Culloty estate agents has also seen a trend of people moving out of cities for a better quality of life in towns like Killarney.
House prices in Tralee prices rose by 1.7% to €185,000, with time taken to sell just five weeks.
The price of the average second-hand three bed semi in Kerry has increased by 2.9% to €232,500 in the last three months.
The average time taken to sell a house in Kerry has remained at six weeks between December and March.
