KCLR NewsNews & Sport

House prices rise in Carlow and Kilkenny but there is a catch

Average property prices are up 3% on last year, according to a survey carried out by the Irish Independent.

The ‘How Much is Your House Worth?’ guide to the property market highlights house type, condition and loan availability as new factors influencing prices.

Carlow and Kilkenny price increases are reflecting the national average, also at 3%.

However, Mark Keenan, Residential Property Editor with the Irish Independent says the situation for Carlow for the year ahead now doesn’t look promising:

“Our local expert is Sothern Real Estate Alliance. They’re actually predicting zero growth for all types of residential property in 2020.

“Some of this relates to Carlow’s designation last autumn as a Rent Pressure Zone, which has become something of a nightmare for local buy-to-rent investors. A lot of them are selling up and that’s contributing to an increase in supply.”

And he says it will be more or less the same in Kilkenny this year:

“Three-bed terrace houses, ex-corporation three-beds and four-bed semis in town are all up just marginally in value, by around 3%.

“Smaller homes, like two-bed cottages are up by 5% and the most average house type, the three-bed semi in town, has increased in value by 4%.

“However, for the coming year, our agents are predicting a stagnant market with prices likely to stay the same, largely due to credit restrictions, i.e. the lending rules.”

The average cost of a four-bed semi in Carlow is now €201,000, and a three-bed semi will now likely cost you €185,000.

In Kilkenny, the average cost of a house is now €245,000.