Commerical vacancy rates down to 15% in Longford
Longford’s commercial vacancy rate was 15% in Q4 2018, down 0.1pp compared to the same period in 2017, according to the latest GeoView Commercial Vacancy Rates Report published by GeoDirectory.
The national commercial vacancy rate has fallen from 13.3% in Q4 2017 to 13.2% in Q4 2018. Out of the total stock of 211,610 commercial properties in the State, 27,951 were vacant as of Q4 2018.
The report highlights the widening gap between the East and West coast in terms of commercial activity, showing that while the economy has improved significantly in recent years, it is mainly centred around urban areas. For example, the five counties in Connacht account for only 13.6% of the national stock.
GeoDirectory carried out analysis of vacancy rates in 80 towns in Ireland. Edgeworthstown had the highest commercial vacancy rate in Longford, at 25% in Q4 of 2018 . Longford was the town with the lowest commercial vacancy rate in the county at 22.3%.
The report also found that in Longford, 11.2% of commercial properties are involved in the accommodation and food services sector.