Search

01 Oct 2022

Commercial vacancy in Longford falls

Rebuilding Ireland 2017 report reveals 80 vacant new homes in Louth

Longford’s commercial vacancy rate has decreased fractionally to 14.9%, according to the latest GeoView Commercial Vacancy Rates Report published by GeoDirectory today.

The report, prepared by EY-DKM Economic Advisory Services, found that the commercial vacancy rate increased in all four provinces in 2019.

The national commercial vacancy rate stood at 13.3% in Q4 2019, 0.1pp higher than the same period in 2018.

In total, 16 counties recorded increases in their commercial vacancy rate, with a decrease occurring in only 6 counties. Sligo, at 18.9%, was the county with the highest commercial vacancy rate. The five counties with the highest vacancy rates were all located in Connacht, a sign of the prominent east-west divide in terms of commercial activity.

At 10.1%, Meath recorded the lowest commercial vacancy rate in the country, followed by Kerry (10.7%), Wexford (10.9%), Westmeath (11.6%) and Cork (11.7%). The commercial vacancy rate in Dublin was 12%, 1.3pp lower than the national average.

Almost a quarter (23.5%) of all commercial properties in Ireland are located in Dublin, equating to 49,812 commercial address points. The three Ulster counties of Donegal, Cavan and Monaghan accounted for only 7.8% of the national total, while Munster and Connacht had 28.9% and 13.7% of the national total respectively.

Edenderry in Co. Offaly, at 29.1%, was the town with the highest commercial vacancy rate in the country. Ballybofey in Co. Donegal dropped to second place in the list after registering a 3pp drop in commercial vacancies in 2019. The rate in the town now stands at 27.7%.

In Longford, Edgeworthstown was the area with the highest commercial vacancy rate at 25.0%. Longford town had the lowest vacancy rate at 22.1%.

Commenting on the GeoView Commercial Property Report, Dara Keogh, CEO GeoDirectory said, “GeoDirectory’s recent commercial property reports have shown that there is a deepening divide between the east and west of the country in terms of economic activity, and this trend is showing no signs of slowing down.

"The report also provides a fascinating insight into the changing nature of commercial property usage. For example, the cultural trend of health and wellness has seen a 167% increase in the number of gyms in the country over the past ten years, while the number of café’s in main urban centres has increased by over 50%.”

To continue reading this article for FREE,
please kindly register and/or log in.


Registration is absolutely 100% FREE and will help us personalise your experience on our sites. You can also sign up to our carefully curated newsletter(s) to keep up to date with your latest local news!

Register / Login

Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.

Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.