The findings of the latest GeoView report reveals the vacancy rate in Leitrim in December 2017 was 16.4%, which was the highest in the country.
74 dwellings in Leitrim were added to the GeoDirectory database in 2017, the lowest in the country.
The Leitrim housing turnover rate was 2.49%, slightly lower than the national average of 2.5%
New dwellings accounted for 13.8% of all residential property transactions in Leitrim, lower than the national average of 18%.
The average residential property price in Leitrim in 2017 was €107,586. The average property price outside Dublin was €187,623.
Residential Housing Stock: New Additions and Vacancy Rates
The construction industry responded positively to demand for housing in 2017, but the level of demand is still far greater than supply according to figures revealed in the latest GeoView Residential Buildings Report, published by GeoDirectory.
The report finds that 36,218 new dwellings were added to the GeoDirectory database in 2017, 1.8% of the total residential stock. Of these new addresses, the overwhelming majority were located in the capital and surrounding counties, with Dublin, Meath, Kildare and Wicklow accounting for 77.4% of the overall total.
Leitrim had the lowest number of new addresses in the country, with only 74 properties added to the database in 2017, 0.2% of the national total.
The GeoDirectory database estimates a total of 95,114 vacant dwellings in the country, 4.8% of the overall national residential housing stock. This represents a slight decrease on the previous GeoView report in June 2017, which estimated the vacancy rate to be 4.9%.
Of the 26 counties examined, 14 recorded vacancy rates above the national average. Leitrim (16.4%), Roscommon (13.8%) and Mayo (13%) were the counties with the highest vacancy rates. At the other end of the spectrum, Dublin (0.8%) and surrounding commuter counties Kildare (2%) and Wicklow (2.5%) recorded the lowest vacancy rates in the country.
Construction Activity and Commencements
Construction activity has doubled relative to the same period last year, with 7,457 buildings under construction in December 2017, representing an increase of 52% on December 2016. This construction activity was primarily concentrated in the Leinster region, accounting for 63.4% of the overall total. In Leitrim, 15 buildings were under construction in December 2017.
The counties with the lowest proportions of buildings under construction were found in the North-West and Midlands region, Leitrim (0.2%), Longford (0.4%) and Roscommon (0.5%).
Data from the Department of Housing, Planning and Local Government (DHPLG) showed that there were 17,151 residential commencements in the twelve months to October 2017, an increase of 37.1% on the corresponding figure in 2016. A total of 32 residential commencements were recorded in Leitrim in 2017.
The average residential property price in Leitrim in 2017 was €107,586. This was lower than the national average of €262,061. Excluding Dublin city and county, the average national property price was €187,623.
Within the capital, Dublin 4 recorded the highest average property price at €735,768, while the average property price in Dublin 10 was the lowest at €196,639 and the only Dublin postcode with an average price below €200,000.
Outside Dublin, Longford had the lowest average property price at €94,792. Longford was also the only county in the country to record an average price lower than €100,000.