Donegal has Ireland’s fourth-highest rate of vacant homes, according to a new report.
The number of vacant homes in the county is well above average at 9.4%, while the national average is 4%.
The new GeoDirectory Residential Buildings Report Q4 2022 recorded 83,662 residential properties vacant in Ireland in December 2022.
The report also found that the number of derelict residential address points fell by 4.8% in the twelve months to December 2022. In total, there were 21,481 derelict units identified nationwide, with the highest proportion found in counties along the west coast, Mayo (13.5%), Donegal (11.9%) and Galway (8.7%).
Donegal has the highest rate of holiday homes at 11% in the county – and 24.8% of total holiday homes in the country.
767 residential buildings were under construction in Donegal in December 2022.
A further 677 new address points were recorded in Donegal in the twelve months to December 2022 representing an increase of 76% compared to the corresponding period in December 2021.
In the twelve months to October 2022, there were 1,308 residential property transactions in Donegal with an average property price of €183,792. This was lower than the national average of €354,060
Commenting on the findings of the latest GeoDirectory Residential Buildings Report, Dara Keogh, CEO of GeoDirectory said, “The data shows that construction activity and supply of housing stock increased significantly in 2022, but it is still lagging well behind the current rate of demand. The number of residential buildings under construction and additions to the housing stock over the past twelve months would indicate that the sector has moved past the disruption brought about by Covid-19.”
Annette Hughes, Director of EY Economic Advisory Services said, “At a national level, the residential vacancy rate of 4.0% is the lowest recorded by GeoDirectory to date. However, this figure highlights a national imbalance of low vacancy rates and high demand in Dublin and surrounding counties, contrasted by considerably higher vacancy rates in the west of the country. The report also highlights a growing affordability gap for rental properties in the country, with renters in our main cities paying well over 30% of their gross income per month in rent.”
