independent

Wednesday 21 November 2018

Mixed business vacancy rates across county

County Wexford's commercial vacancy rates are on a par with last year, the latest Commercial Vacancy Rates Report, published by GeoDirectory, highlights.

The report details how County Wexford's rate remains at 10.8 per cent, the same as in the second quarter of 2017.

Fourteen counties recorded a decline in commercial vacancy rates, the majority of these occurring in Leinster. New Ross at 21.3 per cent is the town with the highest commercial vacancy rate in Wexford. Gorey, at 9.1 per cent is the town with the lowest commercial vacancy rate and the third lowest in the country. Enniscorthy's commercial vacancy rate stands at 17.7 per cent, while Wexford town's commercial vacancy rate was 11.7 per cent.

GeoDirectory carried out an analysis of 80 towns across the four provinces. Meath and Kerry, at 10.4 per cent, are the counties with the lowest commercial vacancy rates. In the analysis of towns, the vast majority of the 15 towns with the highest commercial vacancy rates continue to be either based along the west coast of Ireland or are in the Midlands. Ballybofey, County Donegal recorded the highest commercial vacancy rate in Ireland, at 28.8 per cent.

The national commercial vacancy rate stands at 13.1 per cent, with 14 counties recording a decline in commercial vacancy rates compared to only two counties at the same period in 2017. This suggests that the economic recovery is slowly beginning to take hold outside of Dublin. However, there is still a clear divide between counties in the east and west of the country, and in urban and rural areas, in terms of commercial vacancies.

Dublin was the county that recorded the largest commercial vacancy rate decline.

Within the capital, 16 districts out of 22 recorded vacancy rates lower than the national average. Dublin 2, registered a significant drop in its commercial vacancy rate, while Dublin 16, at 7.1 per cent, had the lowest commercial vacancy rate in Dublin.

In contrast, the highest commercial vacancy rates in Dublin were found in Dublin 8 and Dublin 11, both at 15.8 per cent.

Dara Keogh, CEO of GeoDirectory said: 'We are beginning to see evidence that the economic recovery is taking hold outside of Dublin, albeit at a slow pace. 14 counties recorded a drop in commercial vacancy rates in the year to date, compared to only two at this point last year.'

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