Leitrim leads with highest vacancy rate in Ireland

Leitrim has recorded the highest number of vacant properties in all of Ireland, according to findings from the latest GeoDirectory Residential Buildings Report.

The report revealed surprising statistics for County Leitrim. As of June 2024, an additional 20,413 dwellings were reported as derelict compared to the same period last year. Despite a slight year-on-year decline of 0.2 percentage points, Leitrim’s vacancy rate remains high at 12 percent.

Donegal and Sligo followed at 9.2 percent and 8.2 percent respectively.

In Q2 of 2024, there were 21,851 properties under construction, with Dublin still recording the highest levels of new construction work at 13.7 percent. Leitrim faces the weakest activity, at 0.5 percent.

There were only 118 buildings under construction in Leitrim as of June 2024.

It states that the average property price in Leitrim is €185,156 which is one of the most affordable in the country.

This report follows an earlier housing report by Geowox, which revealed that Leitrim had the lowest number of house sales in the country, reflecting ongoing challenges in the county’s housing market. 

Despite the affordability, expenses involved in constructing new builds are higher than the price these homes can sell for. As a result, this makes new construction financially less attractive for developers and builders.

The report found that in 30 out of 31 local authorities, the median household income is not enough to afford the median price of a new house, creating an affordability gap. 

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Leitrim is the only area where the median household income is sufficient to purchase a new dwelling at the median price without facing this affordability issue.

On a positive note, while some local authorities still face an income gap, households in 19 areas are now better able to afford existing homes with their median income.

Households in Offaly, Longford, and Monaghan are in the best position, with their median incomes exceeding the required amount by over €7,500.

Ballinamore Sinn Féin Councillor Brendan Barry says staggered payments of the Croí Cónaithe scheme could help lessen the number of vacant properties in County Leitrim.

Croí Cónaithe, or the Vacant Property Refurbishment Grant, is funded by the Department of Housing and provides grants to support the renovation of vacant properties.

“The fact that the Croí Cónaithe scheme still can’t be paid in stages is a factor for people. Some people that have those properties don’t have the funds to be able to pay upfront for the full costs of refurbishing them, and then drawing down the grant. 

“If it was in a staged payment, these people might be able to bring these vacant houses back into use,” explained Cllr Barry.

The idea of staggered payments was proposed in a motion by Cllr James Gilmartin at the last Council meeting in July, seconded by Cllr Barry.

“If they were able to get the money and do so much of the work and then draw down the grant then and continue on with the rest, that would make a big difference for people, because they’re finding it tight to have all the money to do it up,” he said.

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As Leitrim navigates these challenges, the effectiveness of such proposed solutions could be vital in determining the future landscape of Leitrim’s housing market.