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25/09/2021

Commercial vacancy rate in Longford rises to 15.6%

Commercial vacancy rate in Longford rises to 15.6%

The commercial vacancy rate in Longford increased to 15.6%, representing an increase of 0.2 percentage points (ppts) on the corresponding rate in June 2020, according to the latest GeoView Commercial Vacancy Rates Report commissioned by GeoDirectory and prepared by EY.

This rate was higher than the national average of 13.6%.

18 counties recorded an increase in commercial vacancy rates between June 2020 and June 2021, with Kildare, at +1.0ppt, registering the sharpest rise in vacancy rates. Vacancy rates declined in six counties with Laois recording the largest decrease at 0.9ppt over the same period.

The GeoView Commercial Vacancy Rates Report has analysed the commercial vacancy rates in selected towns across the country in June 2021.

Of the towns in Longford surveyed, Edgeworthstown was the town with the highest commercial vacancy rate (26.6%), while Longford was the lowest (23.3%)

It found that Ballybofey, Co Donegal, remained the town with the highest vacancy rate (29.2%) in Ireland. Edenderry, Co Offaly (27.7%), Edgeworthstown (26.6%), Kilrush, Co Clare (25.9%) and Ballina, Co Mayo (25.1%) all recorded a vacancy rate over 25.0%.

Dara Keogh, Chief Executive of GeoDirectory said, “We have seen a slight, but consistent increase in commercial vacancy rates across the country over the past twelve months. There still appears to be a very prominent gap in economic activity on the east coast compared to the west coast and this is something which will need to be addressed on a policy level. The report also found a noticeable decline in the number of Retail and Wholesale units in the country, with 1,931 fewer premises recorded than this time last year.”

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