The commercial vacancy rate in Roscommon increased to 17.3 percent, representing an increase of 0.6 percentage points on the corresponding rate in June 2020, according to the latest GeoView Commercial Vacancy Rates Report commissioned by GeoDirectory and prepared by EY Economic Advisory. This rate was higher than the national average of 13.6%.
18 counties recorded an increase in commercial vacancy rates between June 2020 and June 2021, with Kildare registering the sharpest rise in vacancy rates. Vacancy rates declined in six counties with Laois recording the largest decrease over the same period.
The report found that the lowest provincial commercial vacancy rate in the country was in Leinster with an average vacancy rate of 12.7 percent. At 10.3 percent each, Meath and Wexford were the counties with the lowest commercial vacancy rates in the province and country.
The highest commercial vacancy rates were found in the Connacht region, where the provincial vacancy rate stood at 17.2percent. The four counties with the highest commercial vacancy rates in the country were all located in Connacht, namely Sligo (20 %), Roscommon (17.3%), Leitrim (17.2%) and Mayo (17%).
Of the towns in Roscommon surveyed, Roscommon was the town with the highest commercial vacancy rate (24.2%), while Boyle was the lowest (19.7%).
Commenting on the report, Dara Keogh, Chief Executive of GeoDirectory said: “We have seen a slight, but consistent increase in commercial vacancy rates across the country over the past twelve months. There still appears to be a very prominent gap in economic activity on the east coast compared to the west coast and this is something which will need to be addressed on a policy level. The report also found a noticeable decline in the number of Retail and Wholesale units in the country, with 1,931 fewer premises recorded than this time last year”.
Annette Hughes, Director at EY Economic Advisory, said: “The data provided is up to mid-June 2021 and hence just captures the beginning of the easing of restrictions for outdoor dining for the hospitality sector on June 7th. The further reopening of indoor hospitality on July 26th and the more general relaxation of Covid-19 restrictions is giving rise to an early rebound in economic activity.
“While the sustainability of some businesses in the hospitality sector may be tested after the summer staycation season, the hope is that progress on the vaccination programme reduces any risk of a resumption of further restrictions and the domestic economic recovery gathers momentum over the coming twelve months”.
