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14 Aug 2022

Report shows Tipperary residential vacancy rates higher than national average

UReport shows Tipperary residential vacancy rates higher than national averagencertain market sees fall in house prices in Louth

Report shows Tipperary residential vacancy rates higher than national average

The residential vacancy rate in Tipperary was 5.4% in June 2022.

This was higher than the national residential vacancy rate of 4.2%, according to figures released in the latest GeoDirectory Residential Buildings Report. 

The twice-annual residential buildings report, prepared by EY, found that a total of 86,708 residential buildings were classified as vacant across Ireland by GeoDirectory, a 5.9% drop when compared to the previous year. 

In addition to vacancies, 21,897 residential address points were classified as derelict. This total was 3.8% lower than the corresponding figure in Q2 2021. 

In Tipperary, 381 residential buildings were under construction in June 2022. Nationally, residential construction activity accelerated in the first half of the year, with 22,390 residential buildings under construction in June 2022; the number of buildings under of construction was 18.4% higher than the corresponding period in 2021.  

In Tipperary, 466 new residential address points were added to the GeoDirectory database in the 12 months to June 2022.  

Nationally, a total of 34,198 new residential addresses were added to the GeoDirectory database in the 12 months to June 2022, an increase of 34.1% on the total recorded between June 2020 and June 2021.  

The number of residential property transactions increased by 13.5% in the 12 months to May 2022, representing an additional 5,500 transactions on the corresponding figure for the previous 12 months.  

In Tipperary, there were 1,324 residential property transactions, 3.6% of which were new dwellings. The average property price in the county was €200,000.  

The average property price nationally in the 12 months to May 2022 was €338,394. When Dublin is excluded, the average property price nationally fell to €267,351. 

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