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National rate falls for first time since data started being collected in 2013 but picture mixed countrywide, notes report
National rate falls for first time since data started being collected in 2013 but picture mixed countrywide, notes report Some 30,611 commercial units lay vacant in the second quarter of the year, according to data from property database Geodirectory.
Photograph: Getty Imageslying vacant in the Republic fell marginally in the 12 months to the end of June, the first decline recorded since 2013. But there is a growing gap between parts ofwere vacant in the second quarter of the year, according to data from property database GeoDirectory, which was analysed by EY Ireland in a new report.
The national commercial vacancy rate stood at 14.5 per cent, down by a fractional 0.1 of a percentage point from the same period last year, GeoDirectory said. The data reveal what EY Ireland partner Simon MacAllister described as a “growing divide” between different parts of the State, with the vacancy rate actually rising in 13 of the 26 counties covered by the report.
Hazel Chu: ‘Babies and two-seater convertibles don’t match, so the car had to go’The rate was down in “areas benefiting from population growth, employment and investment, particularly in the east”. The highest vacancy rates were recorded in Donegal, where almost 21 per cent of commercial units were empty in June, according to the report.
Sligo was second with a vacancy rate of 20.2 per cent, followed by Galway at 18.6 per cent and Leitrim and Limerick, both at 18.1 per cent. Meath recorded the lowest vacancy rate at 9.9 per cent, the only county to fall below 10 per cent. Wexford at 11.2 per cent, Westmeath and Kerry at 12.3 per cent and Cavan with a commercial vacancy rate of 12.7 per cent rounded out the top five.
In Dublin, the vacancy rate was 13.2 per cent, down 0.6 percentage points since the second quarter of last year, the report’s authors said. Dublin 8 had the highest rate at 17.6 per cent, followed by Dublin 9 at 16.8 per cent. Shannon, Co Clare, had the highest vacancy rate of any town in the Republic, with almost 35 per cent of its commercial units lying unoccupied in June.
Carrigaline in Co Cork and Greystones, Co Wicklow had the lowest rates at 5.1 per cent and 7.3 per cent, respectively. MacAllister said the divergence between counties and local areas “underlines the need for sustained investment and policy measures to support town centre vitality and long-term economic growth”.
“With 30,611 commercial units lying vacant across the country and 13 counties still seeing vacancy increases, commercial property owners and local high streets need to continue to adapt to shifting consumer habits,” said GeoDirectory chief executive Dara Keogh. New Government plan aims to increase financial services jobs to 70,000Tesco worker sacked for taking bakery items before they became ‘free to staff’ loses unfair dismissal claimParakeets have Londoners in a flap and hunters loading their riflesActive travel: NTA report highlights economic benefits of walking and cycling to work
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