Residential vacancy rate falls to new low of 3.8%
The national residential vacancy rate fell to a new low of 3.8% in the final three months of last year.
New figures from GeoDirectory and EY show that the west of Ireland had the highest vacancy rates.
Leitrim topped the list at under 12%, followed by Mayo at 10.6% and Roscommon at 10.3%.
The lowest residential vacancy rate was in Dublin at just 1.2%, followed by Kildare at 1.5% and Waterford at 2.1%.
The report also reveals a drop in the number of derelict residential properties across the country.
Between October and December, 20,092 properties were classified as derelict, down 3.3% on the same period the previous year.
Mayo had the highest concentration of derelict properties, followed by Donegal and Galway.
According to GeoDirectory, there was a substantial increase in the number of residential address points added to its database last year.
34,686 new residential address points were added, an increase of 20.7% compared to 2023.
Meanwhile, 22,251 residential buildings were classified as under construction in December 2024, 2.3% lower than the corresponding period in December 2023
“While the number of new address points increased significantly last year, it will be critically important going forward to ensure the right policies, housing supports and infrastructure are in place to accelerate the delivery of housing supply for all tenures in the right locations,” said Annette Hughes, Director at EY Economic Advisory.
In terms of house prices, today’s report states that prices increased in all 26 counties last year, with a national residential property price average of €399,763.
The vacant property refurbishment grant scheme, launched over two years ago, provides up to €50,000 for the refurbishment of a vacant property for occupation as a home or rental property and a further €20,000 is available if the property is derelict.
To qualify for the scheme, applicants must prove the properties were vacant for two years or more.
Figures published last year showed the grant uptake was highest in Donegal.
Article Source – Residential vacancy rate falls to new low of 3.8% – RTE
