NEW RESEARCH CONFIRMS DUBLIN’S RESIDENTIAL HOUSING SHORTAGE
First comprehensive report about the residential building stock of its kind to be published in Ireland
Highlights:
- Dublin is experiencing a housing shortage at present, and this is reflected in it having the highest number of households per 1,000 dwellings
- There are 2,019,638 residential dwellings across the country
- Combining data on residential property transactions from the Property Price Register (PPR) and the GeoDirectory Database, the report estimates that the turnover of residential stock was 28,626 transactions in the year to June 2014
- Residential housing density is highest in the South of Ireland and around urban centres
- Dublin had the highest average transaction price (€320,902) in the country from June 2013 to June 2014 followed by Wicklow (€260,969) and Kildare (€212,470)
- A total of 3,640 residential dwellings were classified as being under construction in the GeoDirectory Database in July 2014
Date: Dublin is experiencing a serious housing shortage according to the first publication on Ireland’s stock of residential properties commissioned by GeoDirectory. By cross referencing the Property Price Register (PPR), the CSO Census of Population and the GeoDirectory Database, the report offers new, unique insights into the residential housing density, turnover, development and shortage in the country.
The database found that there were 2,019,639 residential dwellings across the country. This compares with the 2011 Census of Population which reported a total housing stock of 1,994,845 dwellings.
Housing stock relative to the population and households was lowest in Dublin and the surrounding counties. Dublin, which has the largest population and is experiencing a housing shortage at present, had the highest number (888 of households per 1,000 dwellings), followed by Kildare (886) and Meath (872). Waterford had the lowest number of households (453 per 1,000 dwellings), followed by Galway (539) and Limerick (564).
Residential density is highest in the South of Ireland and around urban centres. Dublin had the highest residential density per square kilometre (573 dwellings per km²). The next highest county, Louth (63.7), had a substantially lower density, followed by Kildare (47.3). Leitrim (12.4) had the lowest residential density, followed by the Western counties of Mayo (12.6) and Roscommon (13.1).
The GeoDirectory database distinguishes between a ‘dwelling’ which is a single residential unit as opposed to a ‘building’ which can comprise one or more dwellings.
By combining data on residential property transactions from the PPR and the GeoDirectory Database, an estimate of the rate of turnover of the housing stock can be ascertained.
The national average housing turnover rate in the year to June 2014 was 1.4%, with Dublin (9,717 transactions or 1.8% of the total Dublin residential stock) experiencing the greatest turnover in housing stock. Donegal, Monaghan and Mayo (all 0.9%) each had the lowest rates of housing turnover in the country for the period.
The report estimates that there were 28,626 transactions in the year to June 2014 according to the PPR. A total of 13% (3,824) were represented by new properties while 87% (24,802) were second-hand property transactions.
Dublin had the highest number (1,213) of new property transactions in the country (12.5% of the total Dublin transactions). The Capital also had the highest average transaction price (€320,902) in the country over the 12 months from June 2013 to June 2014 followed by Wicklow (€260,969) and Kildare (€212,470). Cavan had the lowest average transaction price (€69,111), followed by Longford (€71,969) and Roscommon (€75,891) which had the second and third lowest respectively.
A total of 3,640 dwellings were classified as being under construction in the GeoDirectory Database in July 2014. Cork (13.5% of all dwellings under construction in the country), Donegal (12.5%), Galway (6.8%) and Dublin (6.4%) dominated in this area.
Commenting on the findings, Dara Keogh, CEO, GeoDirectory said “Using the GeoDirectory database allows for a much clearer picture of the residential property stock in Ireland. The data confirms that high population and lack of stock are all major contributing factors to Dublin’s urgent housing needs.”
Annette Hughes, Director of DKM Economic Consultants said “This is the first comprehensive report about the residential building stock of its kind to be published in Ireland. By using the data from the PPR, the CSO Census of Population and the GeoDirectory Database we have a unique insight into the residential building stock in Ireland. One key statistic which the report highlighted was that the national average housing turnover rate in the year to June 2014 was 1.4%, well below what would be deemed to be a more normal housing turnover rate of around 4 to 5%.”
The GeoDirectory database is a comprehensive address database of dwellings in the Republic of Ireland. The following statistics relate to dwellings in the database as of the 7th July 2014.
A copy of the GeoView Residential Buildings Report is attached in PDF format and is available at www.geodirectory.ie and www.dkm.ie
ENDS
Notes to Editor:
Mr. Dara Keogh, CEO of GeoDirectory is available for interview.
The data in this report relates to dwellings in the database as of the 7th July 2014.
GeoDirectory 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. The figures are recorded through a combination of the An Post network of 5,600 delivery staff working with OSi.
The GeoDirectory database is used by many different companies and organisations across a diverse range of applications. Its database and services are used by the Central Statistics Office to achieve more accurate census results, Bord Gáis Networks has used GeoDirectory to identify and categorise new potential customers and 11890 Directory Inquiries have used GeoDirectory to provide detailed directions and maps to their customers.
In the property sector, GeoDirectory is used by Daft.ie and the Property Registration Authority. In addition, utility companies, banking and insurance providers, and all local authorities use the database.
For further information or to view relevant case studies please visit www.geodirectory.ie
For further information, please contact:
Niamh O’Keeffe
Wilson Hartnell
Tel: +353 1 6690299
Mob: +353 87 9703752