Commercial vacancy rates in Roscommon have increased from 14.2% to 14.3% since July 2016, while the national commercial vacancy rate increased from 13.1% in Q2 2016 to 13.5% in Q2 2017, according to new research published by GeoDirectory and DKM Economic Consultants.
GeoDirectory has conducted an analysis of 102 locations, including 80 towns across the four provinces plus 22 Dublin postal districts. Roscommon and Boyle were included in this edition of GeoView. Roscommon showed the higher vacancy rate at 22% while Boyle had a commercial vacancy rate of 15.7%.
At a provincial level, Connacht had the highest average vacancy rate at 15.8% in Q2 2017, an increase from 15.2% in Q2 2016. Ulster recorded the second highest rate at 14.1%, while Munster recorded a rate of 13.1%. Leinster (excluding Dublin) had an average vacancy rate of 12.6%, up 0.6pp since Q2 2016.
Speaking following the publication of the report, Dara Keogh, CEO, GeoDirectory said: “Despite the improvements we have seen in the economy in recent years, commercial vacancy rates have remained stubbornly high. One of the most prominent points to emerge from this edition of GeoView is that the vast majority of the 15 towns with the highest commercial vacancy rates were either based along the West coast of Ireland or were in the Midlands. These 15 towns had commercial vacancy rates in excess of 20% and well above the national average.”
Annette Hughes, Director of DKM Economic Consultants said: “Nationally we are seeing increased commercial vacancy rates, moving from 13.1% at this time last year to 13.5%. At a provincial level, Connacht had the highest vacancy rate at 15.8%, 1.7 percentage points above the next highest provincial rate, recorded in Ulster.”
A copy of theGeoView Commercial Vacancy report is attached in PDF format and is available at www.geodirectory.ie and www.dkm.ie