Rise of 10% predicted for house prices in Kerry

First-time buyers will drive a continued rise of 10% in house prices in Kerry throughout 2017, a new survey has predicted.

The increase is being encouraged by the easing of the Central Bank’s restrictions on mortgage deposit lending.

The survey carried out by the Real Estate Alliance Group has shown agents expect prices in Kerry to continue to rise after the 14.4% growth experienced in 2016.

The REA Average House Price Survey revealed that prices in the county had increased by €25,000 over the past year – with the average three-bed semi now costing €202,500.

Both REA North’s in Tralee and REA Coyne and Culloty in Killarney point to a massive lack of supply of suitable homes as being the other factor in driving house prices over the coming year.

The prediction survey found that agents expect prices nationally to rise by 6.1% over the next year – with Dublin predicted to grow by 6.8% over the next 12 months.