More than 440 homes currently under construction in Clare, new figures show

The number of new homes under construction in Clare and across the country jumped last year, while the residential vacancy rate remains above the national average, a new report shows.

Data compiled by EY for GeoDirectory, a database of commercial and residential buildings, shows that almost 23,000 new homes were being built across the country in, up 3.5% on the previous year.

Outside of Dublin, building levels were highest in Cork, Kildare and Meath.

In Clare, 442 residential buildings were under construction during December 2023, while 489 new address points were recorded, according to the latest GeoDirectory Residential Buildings Report.

The residential vacancy rate in Clare was 5.6% in December 2023, higher than the national average of 3.9% but lower than in 2022.

According to the report, there were 1,053 residential property transactions in Clare in the twelve months to October 2023, with an average property price of €256,220.

The average residential property price increased by 4.7% nationally to €370,709 in the twelve months to October 2023, with the average price rising in every county. 

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Commenting on the findings of the GeoDirectory Residential Buildings Report, Dara Keogh, CEO of GeoDirectory said: “Over the past twelve months we have seen increases in the number of buildings under construction and new residential address points across the State, which is a positive development. The report has also identified a continued drop in the number of vacant and derelict properties, which would indicate that efforts and policies to bring these units into the housing stock are having an impact.”

Annette Hughes, director of EY Economic Advisory Services added: “The latest GeoDirectory Residential Buildings Report shows continued progress in increasing housing supply and reducing the number of vacant and derelict properties right across the country. Encouragingly, we are seeing all of the key indicators pointing in the right direction, including construction, new address points added as well as lowest recorded vacancy rate since 2013 and further significant reductions in dereliction."

GeoDirectory is jointly developed by An Post and Tailte Éireann – two of the State’s most reliable institutions.

Their years of experience and expertise have been combined to create a database of over 1.9 million buildings and 2.3 million addresses throughout Ireland.