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Tag Archives: property

Kilkee locals competing with international buyers for housing

SINCE the pandemic the value of property in the Kilkee area has increased significantly, and while this is good news for some people in the area, it is also causing problems for others. Councillor Cillian Murphy said that much of the local housing stock consists of purpose built holiday homes, but many other houses are now being bought by people looking for second homes. “There are a couple of aspects to it, one is there is a lot of housing in Kilkee that was granted planning permission specifically for holiday homes, so they’re operating within the space they’re supposed to be operating,” said the cathaoirleach of West Clare municipal district. “What we’re seeing more and more of now is that even in our local authority estates houses are coming up for sale, it might be the second time they’ve been sold, and our local community are competing in an international market for housing. They have to compete with people who …

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People ‘booted out’ for short term rentals in North Clare

THE lack of houses available to rent around North Clare is causing huge stress for people, who find it extremely difficult to get a place to live, says Councillor Liam Grant. “It’s definitely the number one thing people ask me about. In an act of desperation they come to me to ask if I know of anywhere to live and I have to disappoint people all the time. It gets to me, it’s very sad. I hate that I can’t help them with it,” he said this week. During the summer time the situation is particularly acute, he says, while businesses in the area are facing labour shortages due to the lack of accommodation. “You have a lot of people commuting to North Clare for work now. You’ll find a lot of people have accommodation until May but then they’re booted out for short term letting, so they have to leave. “It’s very difficult for people to get anywhere to …

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Demand high supply low as Clare property prices soar

A TOTAL of 1,264 houses were sold at market value in Clare last year, according to figures from the CSO, with an average price of almost €217,000, according to figures from the Central Statistics Office. The average price increased by €26,000 compared to 2020, with the market soaring in Clare. The median price (half buyers paid more and half less than this figure) is sometimes seen as a better barometer of affordability and it was €195,000 in 2021, up by €10,000 on the 2020 figure. With the market very strong again, it is a huge contrast from the recession years. Over €274 million was spent on market-value transactions in Clare last year, compared to just €62.5 back in 2011. The mean sale price in Clare in 2014 was less than €114,000, not much more than 50% of last year’s figure. Auctioneer Diarmuid McMahon said that there is very little stock available within Clare, and with remote workers moving here, there …

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Rents €331 per month higher for average house than mortgages

A NEW survey has revealed a huge disparity between rental and mortgage payments on an average Clare house. People looking to rent a house are likely to spend €331 more on accommodation than someone who buys an equivalent property, new research shows. According to Moneysherpa.ie a house valued at just under €220,000 in Clare means monthly rent payments of €1,087 a month, compared to a mortgage of €756. More starkly, the difference between fully paying a 30-year mortgage and renting for that period comes to over €119,000.  Commenting on the analysis Mark Coan of moneysherpa.ie said the current lending rules need to be revisited. “This analysis raises some significant questions about the current Central Bank lending rules, which are in effect creating a chasm between those who can afford property and those that can not. “Those that can meet the current lending rules, will pay over €100,000 less to live in their home for 30 years and create an asset …

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Average rent in Clare rises to €900

County saw the second highest rent rise in country over 12-month period CLARE has seen the second highest increase in rents in Ireland over the past year. Average rents in the county now stand at almost €900, according to the Residential Tenancies Board, with a 16.1% increase in one year. Between the second quarter of 2020 and the second quarter of 2021, Clare had the second highest increase in Ireland. The standardised average rent in Clare is now €894.06, and while the growth in Clare has been very substantial and fast, the average price here is still lower than in 13 other counties. The RTB found that in the Shannon Municipal District the average rent is €967.08, while in the Ennis Municipal District it is €921.55. Figures for the county’s other Municipal Districts were not available. The RTB said the situation in the second quarter of the year was influenced by the Covid-19 situation at that time. “At present, economic …

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Banner house prices still rising

ACCORDING to the latest research from Daft.ie the mean price sought for a house in Clare during the third quarter of the year was €219,189, up by 17.5% on the same period last year. Separate research from MyHome.ie indicates that the median price sought in Clare was €240,000, with the county having seen what was described as “”by far the sharpest price rise in Munster”. The mean price (the measure used by Daft.ie) is the average, while the median (the measure used by MyHome.ie) is the number with half the properties valued above and half below this price. According to MyHome.ie the median price sought for a two bed apartment was €125,000, while the median price for a four bedroom semi detached house was €230,000. Daft.ie found that the average asking price for a two bed in Clare was €105,000, with a three bedroom semi detached being €153,000 and a four bed bungalow €289,000. Pressure on housing was one of …

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Property prices surge as supply issue reigns

Report shows average asking price for house in Clare now in excess of €210,000 HOUSE prices in Clare are rising at the quickest rate in years, new figures from Daft.ie show. In its report on the second quarter of the year, Daft.ie found that the average price sought for a house in Clare is now €210,676. That was up by 9.2% on the previous quarter and by 15.4% on the second quarter of 2020. House prices in Clare are now 76.2% higher than they were at the bottom of the market, near the beginning of the last decade. While the level of growth in prices in Clare is obviously very significant, it was below average for Munster in percentage terms, with asking prices across the province increasing by 18% year on year. Writing in the Daft.ie report, Professor Ronan Lyons of Trinity College stated that Covid resulted in an intensification of demand, and a decline in available supply as construction …

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Research shows massive hike in Clare resort property prices

Pandemic’s effect on coastal property market evident with prices in one popular town climbing 39% since last year NEW research from Daft.ie shows the asking prices for properties in Lahinch has increased by some 39% since the start of the pandemic. Searches on the website for Lahinch properties have gone up by 49%, according to research conducted by Dr Tom Gillespie, an Environmental Economist at NUI Galway, who himself moved to the north Clare village just before the pandemic. The figures for Lahinch are included in the Daft.ie Coastal Report for 2021, which found that the prices sought for coastal properties in a number of selected areas around the country is up by an average of 23% compared to those sought prior to the pandemic. The average increase for the country as a whole is just 8.7% in the same period. In his report, Dr Gillespie stated that the increase in achieved prices is likely to be greater than those …

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