Greystones has lowest vacancy rate

The national commercial vacancy rate continues to rise across Ireland, standing at 12.3 per cent in the third quarter of 2013, up from 11.9 per cent in the previous quarter, according to a survey from GeoDirectory and DKM Economic Consultants.

The survey includes a one-off analysis of 101 locations across the country, which finds that Ballybofey, Co. Donegal has the highest commercial vacancy rate of 28.2 per cent. This means that more than one in four of every commercial properties in the town is vacant. Other towns which have a higher than average vacancy rate include Muine Bheag (22%), Inniscrone (22%), Longford (21.1%) and Edenderry (20.6%).

Within Dublin city, Dublin 17 has the highest vacancy at rate at 20.9 per cent, followed by Dublin 9 (18.9%) and Dublin 8 (18.0%).

At the other end of the scale, Greystones, in Co Wicklow, has the lowest vacancy rate, of just 3.5 per cent, followed by Dublin 6 (7.5%), Leixlip (7.8%) and Dublin 16 (7.9%).

At a county level, vacancy rates in Donegal, Carlow, Limerick, Dublin, and Galway were at the higher end of the scale at over 13 per cent. Four counties recorded the lowest vacancy rates of less than 10 per cent: Kerry, Westmeath, Meath and Wexford.

Annette Hughes, director of DKM Economic Consultants said that the survey offers s a unique view of the spatial pattern of the commercial building stock and economic activity.

“This provides clear implications for the corresponding pattern and cost of services required to accommodate the existing building stock. The vacancy rates are also likely to influence the location of new development,” she said.