House prices have increased by 3% across Carlow and Kilkenny in the past year.
That’s according to the Irish Independent’s ‘How Much is Your House Worth in 2024’ survey which is out today.
The average price of a house in Kilkenny is now €350,000 while in Carlow it’s €263,000.
Property Editor Mark Keenan says, “An increase in the number of overseas buyers is driving up demand in Kilkenny at the moment. In particular buyers from America and the UK are looking for high-end properties in Kilkenny close to the motorway.”
“Higher interest rates came up against poor supply and poor supply won out. So Kilkenny has seen an increase of about 3% year-on-year across the county and our local agents who did the survey with Sherry Fitzgerald McCreery they’re predicting a 3% increase, so much the same in the year ahead,” he added.
Meanwhile in Carlow where property prices also rose by 3%, Mark Keenan says, “It’s a far cry from the 10% value growth experienced the previous year. What we’re seeing is a developing chronic shortage of homes for sale. It’s actually headed off a full-blown price deflation in the year, which has been caused by rapidly rising interest rates and other deflationary factors at play.
“Three-bed semis are the most in demand, not surprisingly in the towns, and they’ve seen prices grow up to €252,000, that’s up from €245,000 a year ago, and that’s thanks in the main from competition between first-time buyers and housing agencies who are a big force in buying property in the area. There are still some investors buying properties on account of Carlow being still relatively affordable.”