Commercial vacancy rates increase in Wexford
COMMERCIAL vacancy rates in Wexford increased from 10.1 per cent in the fourth quarter of 2015 to 10.9 per cent in the same period last year.
This is still below the national average which has increased, from 12.6 per cent to 13.5 per cent during the same time period, according to new research published by GeoDirectory.
However, commercial vacancy rates in New Ross increased from 19 per cent to 20.8 per cent, Enniscorthy saw an increase of 0.1 to 15.7 per cent, while Gorey saw a decrease of 0.3 to 9.5 per cent.
The GeoDirectory database shows there were 213,666 commercial address points in Ireland with 28,796 of those properties lying vacant. The data indicates a substantial unused commercial building stock not just across the country, but also in Dublin.
The new research of commercial vacancy rates in Ireland that not only provides national data but also analyses the data by province, county and town, and across a broad range of sectors in the economy.
One key finding from the analysis is that counties on the west coast of Ireland tended to perform less well than their eastern counterparts.
This split is again evident when looking at a provincial level, Connacht, at 15.7 per cent, had the highest vacancy rate of any province, while Leinster (excluding Dublin), had a vacancy rate of 12.5 per cent.
In the last year, commercial vacancy rates increased in 25 out of the 26 counties.
Limerick was the only county that retained the same vacancy rate as the fourth quarter of 2015, albeit still at a notably high 15.3 per cent.
The data is published by GeoDirectory which was jointly established by An Post and Ordnance Survey Ireland (OSi) to create and manage Ireland’s only complete database of commercial and residential buildings.
These figures are recorded through a combination of the An Post network of 5,600 delivery staff working with OSi.