Limerick above the national average for empty homes

IN SPITE of the housing crisis, a new survey has revealed Limerick is above the national average when it comes to vacant residential units.

Data revealed by the Geodirectory Hub shows that 4.3% of homes in Limerick were considered vacant, higher than the national average of 4%.

But a total of 636 living spaces were being built as of December last, while 787 new residential address points in Limerick were added to the nationwide database over the last 12 months.

Limerick still remains well below the counties with the highest residential vacancy rate - in Leitrim and Mayo for example, more than one in every ten property is vacant.

While the lowest vacancy rates were in Dublin and Kildare.

Limerick restaurateur Paul Tsang remembered as 'talented, committed and brave'

In the 12 months to October 2022, there were 1,698 residential property transactions in Limerick with an average property price of €255,241 - lower than the national average of €354,060 

Commenting on the findings of the latest GeoDirectory Residential Buildings Report, Dara Keogh, its chief executive said: "The data shows that construction activity and supply of housing stock increased significantly in 2022, but it is still lagging well behind the current rate of demand. The number of residential buildings under construction and additions to the housing stock over the past twelve months would indicate that the sector has moved past the disruption brought about by Covid-19."

Annette Hughes, director of EY Economic Advisory Services added: "At a national level, the residential vacancy rate of 4% is the lowest recorded by GeoDirectory to date. However, this figure highlights a national imbalance of low vacancy rates and high demand in Dublin and surrounding counties, contrasted by considerably higher vacancy rates in the west of the country."