Leitrim’s commercial vacancy rate rises to 16.6%

Leitrim Observer reporter

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Leitrim’s commercial vacancy rate rises to 16.6%

Leitrim’s commercial vacancy rate has increased by 0.3 percentage points to 16.6%

Leitrim’s commercial vacancy rate has increased by 0.3 percentage points to 16.6% 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 Leitrim, Carrick-on-Shannon had a commercial vacancy rate of 17.6%.

Leitrim accounts for 0.9% of commercial address points nationally.