Actually, I believe this property is sale agreed. Anyway, it is 2 different estate agents having 2 different prices - I have seen it a few times in Tralee.
Do you think there will be a correction in Tralee prices ? Havn’t seen many asking price reductions.
Well, if by correction you mean a 50% crash then, yes there will.
Tralee is a fine example, take its unemployment rate well over 3000 ppl (unemployment blackspot), no jobs apart from services and construction and its a disaster waiting to happen.
Its early days yet and most people are unaware of whats actually around the corner.
Also if as predicted the same 3 TD’s are returned you can rest assured that North Kerry will benefit from ZERO investment. In fact money will flee the county! Thank the voters as we get what we deserve.
Thanks Deus Caritas. Want to get nice detached house to live in and would be happy with 20% correction, but reading Morgan Kelly articles on his website, not wise to buy in a falling market. Alot my friends are encouraging me to buy as you can get a 4 bed detached for 320k in Tralee which is good relative to other areas. I agree with you as it’s a fact tralee has very high unemployment with very little industry mainly some services and construction.
Probably continue to rent and see how things develop even though worried about bounce after clarity on stamp duty.
Tralee is a disater waiting to happen in terms of property prices, New estates have gone up all over the place in the last 7-8 years.Unemployment is a very high percentage wise, its a unemployment blackspot. There is no main industry there the main one being construstion and services.
I have already noticed that a lot of builders are finding work hard to come by and the pricing of work has gone down alot in the last year or so.
Also Tralee has a large foreign population where a lot of them rent there houses.Add that to the high unemployment rate and any turn down in the construction industry will have a very big impact on Tralee.
Just by looking on Daft the amount of houses for sale in Tralee is pretty high compared to population 463/22,000
THe average house price in Tralee is still low compare to the average in other towns of similar size.
As for the estates in Tralee its very hard to pinpoint the good areas any more unless you go outside of town and I think thats what will hit Tralee the hardest compare to other large towns where section of the town would have a good name as compare to Tralee it has not been able to keep certain areas desirable.
Hi, Agree with what you say regarding Tralee. Looking to buy in Caherslee / Mounthawk myself an area which I like ( even though it seems there’s high levels of radon gas ?). Houses are moving very slowly in Tralee but asking prices have stayed static or slightly gone up in good areas over the last year. One can’t really believe estate agents on the sale agreed prices. I really don’t know what’s going to happen ! The fundamentals and economics of the situation don’t add up similar to the rest of the country. Prices have been pushed up by EA’s along with vendors expectations. I think prices will stay the same in Tralee over the next 2 years but will be devalued by yearly 4% inflation - The worst thing about prices on the way down is that it seems to be a very slow process, vendors are in denial and there is always some fool who is willing to pay the insane price. Noboby could predict what happened to house prices in the last 10 years and I think the same can be said for the next few years. Even David Mcwilliams who I think is the voice of reason was predicing a house price fall 5 years ago. My impression at this moment is that you can buy now in Tralee or buy down the road at the same prices but have gained 4% / 5% from inflation.
Know a lot of people in the Tralee area who are in the building trade ( Famliy and friends) and they are getting really worried a lot of them seem to be working outside of Tralee at the moment because the job situation on the building sites is getting very tight.They say the summer holidays is when you will see a lot of people getting layed off
As to your point about the EA and the selling price can also tell you nearly all the houses been sold now are going under the asking price or just reaching it compare to the last few year when it was common to get over the asking price and a min to get the asking price.
House viewing are also way down these days. If you are a buyer you are in a very strong position as they are not a lot of buyers around.
If your looking to buy in the Caherslee / Mounthawk area I would wait until the next interest rate hike as a look of people/investors will be under more pressure to sell and you will get more for your money.
Thanks EdenRose. Will monitor things over the next couple of months to see how it develops.