The level of vacancy in residential properties in Kerry is over twice the national rate, according to a new report.
The GeoDirectory Residential Buildings Report for the fourth quarter of 2023 shows the average property price in the county in the year to October is over €260,000.
The report also estimates there’s a gap of €15,000 between the median household income and the income required to buy a new home in Kerry.
According to GeoDirectory, the residential vacancy rate in Kerry was almost 8% in December, while the national average is now under 4%, with almost 81,500 vacant units identified nationwide.
The highest levels of derelict address points are on the west coast, while Kerry has a rate of 5.7% derelict units.
Nationally, the number of derelict residential address points fell, which GeoDirectory says may point to the success of government policy in that area.
568 new address points were recorded in Kerry during 2023, which is a drop of 6% year-on-year, while there were 426 residential buildings under construction in December.
There were 405 residential commencements in the county in the year to November.
The report also surveys property transactions, and found there were 1,116 residential property transactions in Kerry in the 12 months to October last year, with an average property price of €264,000.
It found the median gross household income in Kerry was just under €46,500, over €8,000 below the income required to buy an existing house, and over €15,000 below the income required to buy a new house.
The report estimates that rent is €66 cheaper than mortgage repayments in Kerry, which was calculated assuming a 30‑year term with a 4.5% mortgage interest rate.
It says property prices increased nationally by almost 5% to October.
