Leitrim Residential Vacancy Rate was 12.2% in June 2023

The residential vacancy rate in Leitrim was 12.2% in June 2023, which was higher than the national average of 3.9% according to the latest GeoDirectory Residential Buildings Report released today.

The report, prepared by EY, found that the national residential vacancy rate stood at 3.9% in June 2023, representing a decline of 0.3 percentage points from June 2022. This is the lowest residential vacancy rate recorded by the GeoDirectory Residential Buildings Report to date.

Dublin was the county with the lowest residential vacancy rate in June 2023, at just 1.0%, with Kildare (1.2%), Waterford (2.3%), Meath (2.3%) and Louth (2.5%) all registering rates of 2.5% or lower.

The highest vacancy rates were reported in Connacht, with Leitrim (12.2%), Mayo (10.8%) and Roscommon (10.6%) the only counties with rates above 10.0%.

In Ireland, a total of 21,134 residential properties were classified as derelict in June 2023, representing a fall of 3.5% compared to June 2022.

The highest concentration of derelict properties was located on the west coast of the country, with Mayo registering 13.5% of national total, followed by Donegal (11.8%) and Galway (8.8%).

Residential Property Prices

The average residential property price in Leitrim was €178,571 in the twelve months to May 2023, lower than the national average of €366,291. There was a total of 420 residential property transactions in Leitrim in the twelve months to May 2023 and 2.4% of these were new builds.

The highest average property prices were recorded in Dublin, at €538,168, followed by Wicklow (€470,779) and Kildare (€387,046) as the only other counties above the national average.

At €174,436 Longford was the county with the lowest average residential property price. Leitrim (€178,571), Roscommon (€181,402) and Donegal (€192,679) were the only other counties where the average price was below €200,000.

New Address Points and Buildings Under Construction

132 new residential address points were added to the GeoDirectory database in Leitrim in the twelve months to June 2023, while 755 residential buildings were under construction in Leitrim in June 2023.

Nationally, 22,842 residential buildings were under construction in June 2023, representing only a modest increase of 2.0% compared to the same period in 2022.

Dublin was the county with the highest proportion of residential buildings under construction at 17.2% of the national total, followed by Kildare (15.0%), Cork (10.7%) and Meath (6.7%).

In total, the Greater Dublin Area, consisting of Dublin, Meath, Kildare and Wicklow, accounted for 43.7% (9,965 buildings) of the total number of buildings under construction nationally in Q2 2023.