County records massive increase in new buildings in 2012

127 new residential and commercial buildings were recorded in Leitrim for the first six months of 2012, according to new figures released by GeoDirectory.

127 new residential and commercial buildings were recorded in Leitrim for the first six months of 2012, according to new figures released by GeoDirectory.

The figures represent the largest year-on-year increase nationally of 323 percent compared to the same period in 2011 when 30 new buildings were added in the county.

However, despite the increase, the figures also show that Co Leitrim has the highest vacancy rates for new building additions in the country at 20 percent.

The 127 new buildings identified in Leitrim were composed of 110 residential buildings, 14 commercial buildings and three were dual-purpose buildings with both residential and commercial elements.

These new additions bring the total number of buildings in Leitrim to 19,020.

The increase in new building additions in Leitrim in the first half of 2012 of 323 percent is in contrast to the 23 percent fall recorded nationally.

Six other counties (Carlow, Clare, Cork, Galway, Offaly and Tipperary) across the country also bucked the national trend experiencing an increase in new building additions compared to the same period in 2011. The average increase recorded across these counties was 106 percent.

The highest increase in new buildings was recorded in Cork City and County where 777 residential and 69 commercial properties were completed during the first half of the year.

In contrast, Kerry recorded the lowest number of new additions and the largest year on year decrease of 91 percent, with 30 residential and just five commercial properties completed in the first six months of 2012.

Commenting on the figures, Dara Keogh, CEO, GeoDirectory said, “Current figures for new additions represent a 94% decrease from the peak in 2007, when GeoDirectory identified 60,781 new commercial and residential buildings across the country.

The new figures have identified a vacancy rate nationally of 12% for new building additions, which in effect would mean that 9 out of 10 new commercial and residential buildings are occupied.

“This positive trend is supported by the growth in new additions across seven counties, with Cork City and County having the highest increase in new building added of 777 in the Republic of Ireland.

“Of these counties, Carlow and Offaly have built on the growth in new additions recorded for the same period in 2011,” he noted.