Second only to Sligo

Leitrim has second highest commercial vacancy rate in the country

Leitrim Observer Reporter

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Leitrim Observer Reporter

Leitrim has second highest commercial vacancy rate in the country

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Co Leitrim has the second highest commercial vacancy rate in the country with 16.2% of commercial properties lying empty according to new research published by GeoDirectory and DKM Economic Consultants.

The county with the highest commercial vacancy rate is Sligo, with 18% of properties untenanted.

The national commercial vacancy rate in Ireland increased from 13.1% in Q2 2016 to 13.5% in Q2 2017. According to the figures 28,784 of the 212,717 commercial address points in Ireland were vacant. Notwithstanding the emergence of the economic recovery since 2014, commercial vacancy rates across the 26 counties remain stubbornly high.

The new research, from the Q2 2017 edition of GeoView, shows Kerry, which has consistently had a low vacancy rate over the past number of years, again had the lowest commercial vacancy rate at 10.6%. However, this has increased from 9.4% compared to the same time last year.

The largest increase in commercial vacancy rates was seen in Longford with vacancy rates increasing from 12.9% in Q2 2016 to 14.9% in Q2 2017. Only two counties recorded decreases in the same period, Dublin (-0.2 pp) and Leitrim (-0.1 pp).

At a provincial level, Connacht had the highest average vacancy rate at 15.8% in Q2 2017, an increase from 15.2% in Q2 2016. Ulster recorded the second highest rate at 14.1%, while Munster recorded a rate of 13.1%. Leinster (excluding Dublin) had an average vacancy rate of 12.6%, up 0.6pp since Q2 2016.