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29 May 2022

Longford vacancy rates fall to 14 per cent despite record surge in cost of living

Vacancy rates

The commercial vacancy rate in Longford fell to 14 per cent during the final three months of last year despite skyrocketing cost of living fears.

 

Overall, the county's vacancy rate dropped to 14.4 per cent, marginally ahead of the country's 13.9 per cent vacancy rate. 

Nationally, the commercial vacancy rate was 13.9% in Q4 2021, the highest level of commercial vacancy recorded by GeoDirectory since the report began in 2013. The report, prepared by EY, found that commercial vacancies increased in 15 out of 26 counties.  

The highest commercial vacancy rates were recorded in the west of the country, continuing the trend observed in previous reports. Sligo, at 20.0%, was the county with the highest commercial vacancy rate, followed by Leitrim and Roscommon, both at 17.1%. In Q4 2021, the average commercial vacancy rate for Connacht was 17.3%.  

Meath (10.2%) was the county with the lowest commercial vacancy rate in the state, with Wicklow (10.4%) and Kerry (11.3%) also recording notably low rates.  

In Dublin, the commercial vacancy rate increased by 1.0pp in the year to Q4 2021, reaching a rate of 12.9%. This year-on-year increase was second only to Laois, which recorded a 1.1pp increase to stand at 14.2%.  

This report examined the commercial vacancy rates among a sample of 80 towns located across the state. Of the towns in Longford surveyed, Edgeworthstown had the highest commercial vacancy rate (26.3%), while Longford town had the lowest (20.4%) 

Nationally, Ballybofey, Co. Donegal was the town with the highest rate in Q4 2021, at 30.0%. Edenderry, Co. Offaly (27.7%), Edgeworthstown, Co. Longford (26.3%), Kilrush, Co. Clare (26.2%), and Roscommon Town (24.2%) completed the top five towns by highest commercial vacancy rate.  

Gorey, Co. Wexford, at 7.8%, was the town with the lowest commercial vacancy rate in the country. Greystones, Co Wicklow (7.9%) was the town with the second lowest rate, while Carrigaline, Co Cork (8.5%) had the third lowest.  

In the capital, Dublin 2 recorded the largest year-on-year increase in vacancy, with a 3.1pp increase to reach a vacancy rate of 16.8%, the highest across Dublin’s postal districts.

The Dublin postcode with the lowest vacancy rate was Dublin 16, at 6.8 per cent. A total of 16 postal districts recorded an increase in their vacancy rates since Q4 2020. 

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