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GeoDirectory 2023 Residential Building Report
Almost 27,000 new residential address points added in past year - GeoDirectory
22,842 buildings under construction at end of June, up 2% year on year, while national vacancy rate drops to a record low of 3.9%
GeoDirectory Residential Buildings Report Q2 2023 Highlights:
22,842 buildings under construction, up 2% year on year, with 15,561 residential buildings commenced in the first six months of 2023, up 10% on the same period last year
The national residential vacancy rate dropped to 3.9% (81,712 units) in June 2023, the lowest figure recorded to date
21,134 residential address points were recorded as derelict in Q2 2023, down 3.5% on the same period in 2022
26,796 new residential address points were added to the GeoDirectory database in the twelve months to the end of Q2 2023, a drop of 21.6% compared to the same date in 2022
The average residential property price was €366,291 in the twelve months to May 2023, with the average price increasing in every county
26 July 2023
26,796 new residential address points were recorded across Ireland in the twelve months to the end of June 2023, according to the latest GeoDirectory Residential Buildings Report. The report also found that the national residential vacancy rate dropped to 3.9%, the lowest level on record.
Buildings Under Construction
22,842 residential buildings under construction in the second quarter of 2023, up 2% year on year, with construction activity strongest in Leinster, accounting for almost two thirds (62.9%) of building activity.
Dublin was the county with the highest proportion of residential buildings under construction at 17.2% of the national total, followed by Kildare (15.0%), Cork (10.7%) and Meath (6.7%).
In total, the Greater Dublin Area, consisting of Dublin, Meath, Kildare and Wicklow, accounted for 43.7% (9,965 buildings) of the total number of buildings under construction nationally in Q2 2023.
National Residential Vacancy Rate and Derelict Properties
The national residential vacancy rate stood at 3.9% in June 2023, representing a decline of 0.3 percentage points from June 2022. This is the lowest residential vacancy rate recorded by the GeoDirectory Residential Buildings Report to date.
Dublin was the county with the lowest residential vacancy rate in June 2023, at just 1.0%, with Kildare (1.2%), Waterford (2.3%), Meath (2.3%) and Louth (2.5%) all registering rates of 2.5% or lower.
The highest vacancy rates were reported in Connacht, with Leitrim (12.2%), Mayo (10.8%) and Roscommon (10.6%) the only counties with rates above 10.0%.
A total of 21,134 residential properties were classified as derelict in June 2023, representing a fall of 3.5% compared to June 2022. The highest concentration of derelict properties was located on the west coast of the country, with Mayo registering 13.5% of national total, followed by Donegal (11.8%) and Galway (8.8%).
Residential Property Prices
The average residential property price increased by 8.2% to €366,291 in the twelve months to May 2023, with the average price increasing in every county. The highest average property prices were recorded in Dublin, at €538,168, followed by Wicklow (€470,779) and Kildare (€387,046) as the only other counties above the national average.
At €174,436 Longford was the county with the lowest average residential property price. Leitrim (€178,571), Roscommon (€181,402) and Donegal (€192,679) were the only other counties where the average price was below €200,000.
In total, 49,079 residential property transactions took place between May 2022 and May 2023, of which 18.7% were for newly built dwellings.
Commenting on the findings of the Q2 2023 Residential Buildings Report,
Dara Keogh, Chief Executive of GeoDirectory
said, “While the latest report highlights a decrease in the number of new address points recorded in the last year, we have seen increased utilisation of the housing stock and an increase in the pipeline of new housing stock under construction. The drop in output over the last 12 months may be due to material supply issues, inflationary pressure on the construction sector along with rising interest rates. As a result, supply in the housing market remains tight, and demand is high, which has forced the national vacancy rate below 4.0% for the first time since GeoDirectory has started tracking residential vacancy rates.”
Annette Hughes, Director of EY Economic Advisory Services
said, “The latest GeoDirectory Residential Buildings analysis finds a significant reduction in the national residential vacancy rate, which at 3.9% (81,712) is the lowest figure recorded to date. Moreover, the number of addresses reported as derelict was down 3.5% reduction to 21,134. These are significant reductions, indicating that key policy settings and incentives are beginning to have impact. However, there is clearly scope for further utilisation of this existing residential stock. National policies such as the Vacant Property Refurbishment Grant and the Croí Cónaithe (Towns) Fund, as well as changing working and living patterns post pandemic could play an important part in delivering this.”
Download the full report below
For further information, please contact:
Killian Keys, Wilson Hartnell, email@example.com, 086-1024302
Notes to Editor
Dara Keogh, CEO of GeoDirectory is available for interview
About GeoDirectory - Data Intelligence for Targeted Growth
The GeoDirectory database is the most comprehensive address database of dwellings in the Republic of Ireland. A copy of the Residential Buildings Report is attached in PDF format and is available at
Complete the following form to download the report:
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